Cash App has announced plans to provide funding to emerging artists.
According to Yahoo!Entertainment!, the mobile payment service has launched its Cash App Studios, specifically designed to help independent creatives fund their projects. Those creatives include artists, designers, directors and musicians.
“We’ve long upheld the importance of artistic expression at Cash App,” said Brian Grassadonia, lead at Cash App, in an official statement. “With the introduction of Cash App Studios, we’ll continue to support the freedom of the artist, both financially and creatively. In keeping with our guiding principle of economic empowerment, we are excited to support emerging artists who are limitless in their vision with this new program.”
This isn’t the company’s first rodeo with artist collaborations as that it’s received recognition in a plethora of Hip-Hop songs. Cash App has also partnered with Megan Thee Stallion on recent marketing and content campaigns.
Plus, its parent company, Square, purchased a majority stake in streaming service, TIDAL.
Inaugural artists who will have a role in Cash App’s new program include Grammy-winning songwriter and singer Victoria Monét, artist-producer Cristoforo Donadi, pop singer Jacquie Lee, artist Angelnumber8, rapper-producer Tyrese Pope and Texas musicians Reggie and Monaleo.
“When an artist is able to fully own the catalog but still get the funding, you are getting what you need in the present to set you up for 50 years into the future,” said Ezra Averill, Reggie’s manager and a partner at Stomp Down Management. “Money can be here and gone in the same day, but what can’t be is the value you create. So you want to make sure that that value is what you hold on to. The cash comes and goes but the value lasts forever.”
In addition to those in the music space, artists in the fashion and filmmaking space will also receive funding.