German performing rights organization GEMA has launched an emergency relief fund worth up to $43 million for its songwriter and composer members, according to Music Business Worldwide. “It is already foreseeable that the economic consequences of the corona pandemic will be devastating for the entire creative industry,” said GEMA CEO Dr.
Harald Heker. “GEMA will use all available means to support its existentially threatened members as best [we can] to cushion the economically catastrophic effects for our customers.” The €40m aid fund will be provided by GEMA in a two-stage program: The first tranche of money, says GEMA, will be given to those composers and lyricists who also act as performers and therefore face financial difficulties due to
Read more on variety.com