BitTorrent has pledged to lend a helping hand to independent artists with The Discovery Fund, a new venture from the company that aims to provide cash grants to those working independently in the creative industry.
In a 2015 survey, BitTorrent asked 200 independent artists to weigh in on the present and future of creative sustainability, with 59% of those surveyed saying that getting their work discovered was the biggest challenge they faced in their career, closely followed by fan outreach. BitTorrent have therefore set up a scheme that looks to help them solve these issues.
With The Discovery Fund, BitTorrent has pledged to partner with 25 artists, musicians and filmmakers in order to offer them with financial and promotional support, providing between $2,500 to $100,000 in marketing and distribution funding to use at the creator’s discretion. It is BitTorrent’s belief that this collaboration will allow independent artists to take their work to a wider audience.
According to Straith Schreder, VP of Creative Initiatives at BitTorrent, “the rules are simple. You make something awesome. You own it. We back it, and help you find a global audience for your big idea.” The Discovery Fund follows the launch of BitTorrent Now, a free and ad-supported streaming service similar to Spotify, albeit one that offers its artists a 70/30 split in revenue generated by each stream.
The mission statement on The Discovery Fund’s official page reads: “You create it. You own it. We back it. We back creators. We don’t buy content. Because fuck content. Because music and film is more than that. Because outside voices need to be heard. The BitTorrent Discovery Fund is an open initiative dedicated to supporting a diverse group of creators seeking global distribution for uncompromising, original work.”
The Discovery Fund has a rolling call, meaning that there is no deadline for applications. You can apply right here.
