One-time payments on future royalties are available to labels and distributors that earn over $10,000 per quarter and have direct deals with the streaming service.
Apple Music has created a $50 million advance fund to help independent labels and distributors weather the downturn due to coronavirus, industry sources tell Billboard.
The funds will be available through a one-time advanced payment on future royalties for labels and distributors that earn over $10,000 in quarterly revenue from Apple Music. Labels and distributors must have a direct distribution deal with Apple Music and thus cannot be distributed by major labels. Music Business Worldwide first reported the details of the fund.
“Over the past week, I have had a number of conversations with Apple, who are aware of the challenges currently facing independents, about different ways they can support the community,” Jeremy Sirota, the CEO of Merlin, the indie rights organization, tells Billboard. “Coming out of those conversations, we greatly welcome the news that Apple has made a $50 million advance fund available for independent labels and distributors,” Sirota says. “The advance is optional, which gives our members and other independents the flexibility to decide if they want to draw on it.”