Instead of forcing creatives to permanently sell their copyrights for pennies on the dollar in order to fund their work, we’ll help Symphonic’s clients access already earned funds when they’re needed most.
West Palm Beach, FL (PRWEB)
August 30, 2017
Leading digital distributor Symphonic Distribution and music-focused specialty finance firm Sound Royalties today announced an unprecedented new strategic alliance. The collaboration will provide Symphonic’s artists, labels and other clients with exclusive access to customized royalty advances on earnings from upcoming albums, signings and/or digital sales revenue. This custom funding empowers music professionals to continue their work or launch their next project, without having to deal with credit issues and while preserving all of the creator’s rights to their music.
The new program far exceeds anything currently available on the market. While existing models have automated, ATM-style financing, Sound Royalties provides personalized service, with customized options for each individual’s unique needs and a dedicated customer support team.
Designed for musicians and record labels currently earning at least $5,000 in annual royalty income, deals through this new program bypass the hurdles associated with traditional funding. Sound Royalties’ deals are not based on credit and there is no application fee. Meanwhile, the music professionals retain the rights to their works and can even receive overflow income.
“We are so excited to be working with Symphonic, one of music’s most respected digital distributors, to extend Sound Royalties’ specialty services to their deserving clients,” said Sound Royalties Founder and CEO Alex Heiche. “There’s long been a need for viable funding options that work for the music professional, rather than against them. Instead of forcing creatives to permanently sell their copyrights for pennies on the dollar in order to fund their work, we’ll help Symphonic’s clients access already earned funds when they’re needed most.”
Jorge Brea, President and CEO of Symphonic Distribution added: “We’ve seen Sound Royalties develop into the dominant industry standard for excellence thanks to its artist-centric business model, so they were the natural choice when…