US-based finance firm Sound Royalties, which was recently acquired by Sound Royalties offers royalty advances of anywhere from $5,000 to the tens of millions.
It does this by advancing artist, producer and songwriter royalties paid through music labels, distributors, publishers and PROs such as launched a $2 million fund from which music creators impacted by Coronavirus could obtain no-fee royalty advances.
The company has worked with the likes of DJ Khaled, Lil Wayne, Pitbull, and Wyclef Jean.
“Many artists and performers have expressed a need for additional financial support as we continue to navigate through the unpredictability of live events.”
Alex Heiche, Sound Royalties
Alex Heiche, CEO of Sound Royalties, said: “The pandemic is continuing to have a ripple effect in several areas of the music industry.
“What we thought was going to be a celebrated return to touring and live music experiences during the summer of 2021, has turned into a fractional victory, with lots of artists lacking the funding needed to get their live shows back out on the road.”
“Many artists and performers have expressed a need for additional financial support as we continue to navigate through the unpredictability of live events.
“It only makes sense for us, the leading financial services company in the music industry, to offer something of value to these creatives, keeping them funded, motivated and helping restore a sense of normalcy to their life.”
“As the company that pioneered financing for music creatives without risk to ownership of copyrights, this new program continues Sound Royalties’ tradition of offering valuable artist and industry friendly funding solutions.”
Michael Bizenov, Sound Royalties
Michael Bizenov, President of Sound Royalties added: “As the company that pioneered financing for music creatives without risk to ownership of copyrights, this new program continues Sound Royalties’ tradition of offering valuable artist and industry friendly funding solutions.”Music Business Worldwide