Music finance company Sound Royalties has launched a funding program that will provide financial backing for distributors and independent labels.
Through the Edge Funding Program, independent labels will be able to secure interest free advances with manageable terms via their distribution partners.
Distributors will be given extended opportunities for content acquisition in order to secure new deals and remain competitive without incurring debt.
Backed by over $18 billion in assets under management, Sound Royalties’ core business is providing financing that helps artists fund personal and professional projects.
It does that by advancing performance royalties paid through labels and Sound Exchange, songwriter royalties paid through music publishers and PROs, and music streaming royalties.
The company recently teamed up with Lil Wayne to help finance a number of new projects for 2018 while he’s locked in a legal dispute with Cash Money and Universal Music.
The Edge Funding Program mirrors Sound Royalties’ core value of allowing creatives to retain their rights.
“THIS IS AN EXCITING MOMENT FOR US TO LAUNCH A NEW TRANSFORMATIVE PROGRAM THAT WILL CHANGE THE WAY DISTRIBUTORS ARE ABLE TO FUND CONTENT FOR LABELS.”
ALEX HEICHE, SOUND ROYALTIES
Discussing the new fund, Sound Royalties Founder and CEO Alex Heiche said: “Sound Royalties has a history of transforming the way creatives access funding.
“We have made significant gains in easing the flow of funding on the publishing copyright side of the music business.
“As we continue to expand in providing all things money for music, this program significantly advances our support for the master side of the music industry.
“This is an exciting moment for us to launch a new transformative program that will change the way distributors are able to fund content for labels.”