As the coronavirus pandemic continues to shut down thousands of businesses around the country and keep millions of people confined to their homes around the globe, the Universal Music Group today (March 30) announced a multi-million dollar initiative intended to support its artists, songwriters and employees over the next several months.
On a base level for its 8,800 employees around the world, the vast majority of which are in the U.S., UMG is launching the UMG All Together Now Foundation to help support those of its workers facing extraordinary hardship brought on by the virus. That’s also included enhanced HR offerings and other programs, as well as a commitment that any employees who cannot work remotely will not see their pay change through at least June 30.
For its artists and assorted companies, the company is also offering a suite of economic flexibility initiatives, including interest-free royalty advances and fee waivers, to help them make it through the shutdown, which currently has no end in sight. The company is also donating directly to MusiCares’ COVID-19 Relief Fund (a source says UMG has made the largest contribution there of any record label) and the Help Musicians UK charities, and has committed to matching donations that U.S. employees make to those organizations as well.
