By Jem Aswad
Apple Music Launches $50 Million Advance Royalty Fund for Independent Labels
08.04.2020 - 02:07 / variety.com
By Jem Aswad
Senior Music Editor
Apple Music has launched a $50 million advance royalty fund to help independent labels ensure that their artists are paid amid the economic devastation of the coronavirus pandemic, according to reports in Rolling Stone and Music Business Worldwide; a source close to the situation confirmed the reports to Variety.
According to a letter sent to the labels and cited by Rolling Stone, independent labels that earn at least $10,000 in quarterly Apple Music earnings
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
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Apple Music has launched a $50 million advance royalty fund to ensure that artists will get paid and label operations can continue during the coronavirus pandemic, Rolling Stone reports. The streaming giant confirmed the news in a letter to labels (obtained by Rolling Stone). Eligible labels must have a direct Apple Music distribution deal and earn $10,000 minimum on a quarterly basis.