The fund will go specifically to independent record labels who have a direct deal with the service.
Estimations had live concert revenue for 2020 at a record-breaking $12.2 billion.
Spotify's request to have the case moved to New York for their convenience has been denied.
The deal will finally allow listeners in India to enjoy Warner Music's catalog.
The media giant and Country Music trade association have pledged $10m and $1m, respectively.
After signing the paperwork back in December, the €3bn deal for a 10% stake has now closed.
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