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Universal Music Group Establishes $25 Million “Change Fund”

on June 04, 2020, 11:09pm

Universal Music Group is ready for change — and willing to take action. According to Rolling Stone, the company has announced the formation of the Task Force for Meaningful Change (TFMC) and a dedicated $25 million “Change Fund.”

“The problems we are addressing are not new and they certainly do not have easy solutions, but we are dedicated to fighting for real, lasting change,” the co-chairs of the TFMC wrote in a letter obtained by the publication. “UMG has committed resources and empowered us to create a task force to be both a resource and ally to our internal and external community.”

They continued, “Task Force for Meaningful Change (TFMC) was created as a driving force for the ongoing fight for equality, justice and inclusion. We are charged with reviewing the company’s commitment to addressing and promoting tolerance, equality, and elimination of bias, within UMG, the music community and the world at large. It is our mission to identify the gaps and deficiencies and to strengthen UMG’s plan with new initiatives — and everything is on the table.”

The TFMC went on to identify six areas of focus and immediate steps they’ll be taking “to be both a resource and ally to our internal and external community.” Areas of focus include Aid/Charitable Giving, Global, Internal/Institutional Change, Legislative/Public Policy, Partners, and Programming/Curation.

Already, they’ve commissioned a first round of grants to benefit Black Girl Ventures, Black Lives Matter, Black Mental Health Alliance, Colin Kaepernick Foundation, Color Of Change, Equal Justice Initiative, National Association of Black Journalists, Silence the Shame, Sickle Cell Disease Foundation of California, The Bail Project, and When We All Vote.

The letter went on to conclude: “We know our community, colleagues, artists and partners are suffering. We feel it and we’re living it but we’re also energized to fight for change. We’re asking for you to lock arms with us — we want to hear your voice. Now is the time to be heard!”