Sony Music Launches $100 Million Fund to Fight "Racial Injustice"

Universal, meanwhile, has launched a $25 million "Change Fund"
Sony Music Launches $100 Million Fund to Fight 'Racial Injustice'
Following the music industry's Blackout Tuesday initiative, which had the intent of focusing on the Black Lives Matter protests happening around the world, major labels have finally started to make financial moves. Yesterday (June 4), Warner Music Group pledged $100 million USD to an anti-racist fund, and now Sony Music is doing the same. Universal Music has also made a pledge.

Sony has started a $100 million USD fund that will support social justice and anti-racist initiatives around the world. 

"Racial injustice is a global issue that affects our artists, songwriters, our people and of course society at large," the label's chairman Rob Stringer said. "We stand against discrimination everywhere and we will take action accordingly with our community fully involved in effectively using these funds."

Universal Music — the other major label of the big three — has launched a $25 million USD "Change Fund" and a Task Force for Meaningful Change (TFMC). According to Rolling Stone, a statement from the company was released to colleagues that identified six areas of focus and immediate steps the company was taking "to be both a resource and ally to our internal and external community."

"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," Universal Music execs wrote. "As Lucian [Grainge, Universal Music Group's Chairman and CEO] wrote, 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."

On top of the "Change Fund," UMG subsidiary Republic Records — the label home of Taylor Swift, Drake, Post Malone, Ariana Grande, the Weeknd and many more — has banned the use of the word "urban" effective immediately.

Following Blackout Tuesday, the Weeknd had urged major labels and streaming services to make large donations to Black Lives Matter causes.