Snafu Records launches $1 Million Women’s Creator Fund to bridge gender gap in Music Industry

"As a woman in music and tech, I think it is very important to support women, especially when the numbers are so stacked against them. With the women's fund, we have a chance to really have a positive impact"
4 March 2024
Mira Howard, Head of Snafu's Song Fund

In celebration of International Women’s Day (March 8th) and throughout Women’s History Month (March 1st-31st), the innovative Swedish music tech company Snafu is excited to announce a pioneering initiative dedicated to supporting and promoting female talent within the music industry.

Introducing the Snafu Women’s Creator Fund, a robust $1 million initiative, aimed at diminishing the gender gap prevalent in music streaming and production, where female artists account for less than 22% of all streams on major platforms like Spotify. This initiative begins with financial advances on a female creator’s catalogue, but it’s the promise of catalogue growth and augmented reality (AR) opportunities that Snafu believes will truly impact women’s careers and their overall presence in the music industry.

Originating in Stockholm, Sweden, Snafu Records stands as the world’s ​f​irst AI-driven record label, leveraging advanced technology to uncover and back undervalued talent within the music scene.

The initiative will provide:
– Financial advances based on the artist’s catalogue
– Catalogue expansion facilitated by Snafu’s marketing team
– A&R opportunities, including brand partnerships and artist sponsorships
– Exclusive women-only writing camps, with teams led by female A&Rs and comprised of female producers, songwriters, and creators
– Mentorship from established female professionals in the industry

Moreover, Snafu plans to release a compilation album featuring female artists and will promote women-created tracks through playlists and social media channels.

The ultimate goals of this initiative are twofold: to increase the presence of female artists among the top earners on digital service providers (DSPs) and to foster a supportive community and creative network for women in the music industry, aiming for a safer and more successful professional environment.

This initiative was inspired by Snafu’s previous allocation of $5 million to artists, which, after engaging with over 10,000 artists, highlighted a significant underrepresentation of women in the industry’s ‘middle class’ — those earning up to $100,000 a year. This discovery has driven Snafu to actively contribute to creating a more inclusive and equitable landscape within the music sector.

The Snafu Women’s Creator Fund is dedicating $1 million to support female artists with financial advances, including access to a creator community, brand partnerships, and tailored resources and mentorship programs. This effort is aimed at enhancing the visibility of female musicians and empowering them to thrive as both creators and entrepreneurs, thereby helping to establish music as a viable career option for more women.

Snafu Records has consistently been a leader in utilizing technology to identify and nurture musical talent. ​“We have always believed that talent is everywhere, but the opportunities afforded to that talent are not always evenly distributed,” stated Ankit Desai, Founder and CEO of Snafu Records.

Mira Howard, Head of Snafu’s Song Fund, emphasized: “As a woman in music and tech, I think it is very important to support women, especially when the numbers are so stacked against them. With the women’s fund, we have a chance to really have a positive impact. If we can make a difference for even one female creator’s career, we will be happy. But the ultimate goal of the women’s fund is bigger than that – it is to shift the percentage of women actually making a living on music.”

Application Process and Eligibility:
The Snafu Women’s Creator Fund welcomes applications from female artists, producers, and songwriters aspiring to make a significant mark in the music industry. Candidates will be judged based on the quality and potential of their existing and unreleased music. More information on how to apply and the criteria for eligibility can be found on Snafu’s website.

Apply via womensfund@snafurecords.com

Originating in Stockholm, Sweden, Snafu Records stands as the world’s ​f​irst AI-driven record label, leveraging advanced technology to uncover and back undervalued talent within the music scene. Snafu’s mission is to transform the conventional process of music discovery, equipping artists with the necessary tools, resources, and platform to achieve success.

snafurecords.com