Wyclef Jean has secured backing for his Africa-focused music publishing and distribution company Carnival World Music Group.
The support comes from Sound Royalties, an entertainment industry finance firm founded by CEO Alex Heiche that provides royalty advances to artists, producers and songwriters without taking ownership of their copyrights. The firm has previously backed projects from artists including Lil Wayne and Pitbull.
“Over his career, Clef has demonstrated the ability to use the power of music to transform lives,” said Heiche in a statement. “I was excited to hear about his plans to fund songwriters and artists that typically don’t have the same options as those working domestically. This partnership is a terrific example of how our financing platform can have a profound impact on both artists and fans around the world, and on the music industry overall.”
Carnival World provides artists with music publishing and distribution resources needed to promote their music and earn royalties. The new backing from Sound Royalties comes at a time of rapid expansion for digital music streaming internationally, including in developing markets.
“The demand for music from Africa and other developing regions is growing, and these professional creatives deserve to be a part of the international music marketplace,” said Jean in a statement. “There is a need for them to have open access to global publishing and distribution options that protect their rights and ensure they’re fairly paid. This initiative not only introduces and launches new talent, but helps creatives around the world thrive in their careers.”