The producers of the "12-12-12" concert announced in a statement today that the Robin Hood Foundation will distribute the first $50 million of initial proceeds for "12-12-12" to organizations helping to aid victims of Hurricane Sandy. Fundraising efforts have included ticket sales, sponsorships, telephone and web donations and merchandise with additional money still coming in and being distributed to aid the victims of Hurricane Sandy. Additional "12-12-12" contributions and proceeds from online auctions of exclusively signed memorabilia, iTunes sales - which peaked at #1 on the iTunes chart as a pre-order, U.S. network broadcast of concert, DVD and CD sales, as well as continuing merchandise sales and additional revenue streams are expected.
The album of the concert arrived on iTunes via Columbia Records today, with the physical release to follow next month. The Robin Hood Relief Fund will receive 100% of the net proceeds of digital retailers, Columbia Records and the artists from the sale of this album (a minimum of $6.50 for sales in the U.S.) Artists on the album include Bruce Springsteen & the E-Street Band. Roger Waters featuring Eddie Vedder), Adam Sandler/Paul Shaffer, Bon Jovi, Eric Clapton, the Rollng Stones, Alicia Keys, The Who, Billy Joel, Chris Martin with Michael Stipe, and Paul McCartney.
The event producers issued the following joint statement in announcing the concert funds distribution: "The historic '12-12-12' concert to benefit the victims of Hurricane Sandy was the largest concert event to ever hit the stage at Madison Square Garden, featuring the biggest names in music and the world's leading entertainers. We are forever grateful to the unlimited generosity that was shown to the people of the tri-state area from around the world. Through the collective efforts of the participating artists, celebrities, corporate partners and sponsors we will be able to make a meaningful difference for so many of our neighbors who were affected across the tri-state area. We thank everyone who made the event a resounding success."
The release continues, "Thanks to the generosity of concert organizers, sponsors, and Robin Hood's board of directors, every single penny from ticket purchases and donations will go to organizations serving the victims of Hurricane Sandy through the Robin Hood Relief Fund. The Robin Hood Relief Fund provides money, material and know-how to local organizations that are serving families and individuals in the regions hardest hit by the storm."