Sony Music Group have established a USD $100million social justice fund in an act of solidarity following worldwide #BlackLivesMatter protests. The fund was established in conjunction with all divisions of Sony Corporation, including sister entertainment company Sony Pictures Entertainment.
According to a press release from Sony Music Group, the company, “will immediately begin to donate to organisations that foster equal rights”. However, the specific organisations themselves set to receive financial aid were not disclosed.
Chairman of Sony Music Group Rob Stringer also issued a statement: “Racial injustice is a global issue that affects our artists, songwriters, our people and of course society at large.”
“We stand against discrimination everywhere and we will take action accordingly with our community fully involved in effectively using these funds.”
Sony’s initiative follows the music industry campaign #TheShowMustBePaused last week, which saw companies, artists and organisations halting operation for 24 hours in support of worldwide protests against racial inequality.
Fellow industry titan Warner Music Group established their own USD $100million fund last week (June 4). The fund was set up in collaboration with the Blavatnik Family Foundation, a charitable organisation run by WMG vice-chairman Sir Leonard Blavatnik. In a similar vein to Sony, the fund aims to support companies who are “strengthening education, and promoting equality, opportunity, diversity and inclusion” in the music industry.