Promoting Peace, Education, And Cultural Exchange through Music Diplomacy Act or the PEACE through Music Diplomacy Act This bill authorizes music-related exchange programs facilitated by the Department of State. The bill authorizes the inclusion of coordination and consultation with the private sector in the participation by groups and individuals from other countries in nonprofit activities in the United States similar to certain artistic and sports activities when such participation is in the national interest. State's Bureau of Educational and Cultural Affairs (ECA) shall manage, including in coordination and consultation with the private sector, programs focused on music and the performing arts that provide opportunities to build cross-cultural understanding and advance peace abroad. State should continue to (1) partner with the private sector in support of music-related exchange programs implemented by ECA, (2) leverage private sector expertise in developing and implementing such programs, (3) expand networking and mentorship opportunities, and (4) identify private sector funding sources for travel and other expenses. The bill authorizes State to partner with the private sector to recognize musicians whose works or performances have advanced peace abroad and who could contribute to networking and mentorship opportunities for participants of music-related exchange programs implemented by ECA.