Specialty music finance company Sound Royalties introduced a ground-breaking new financial product to enable distributors to acquire additional content and provide advances to existing labels with the funding being provided by Sound Royalties’ through the new Edge Funding Program.
For decades, the music industry has been fueled by revenue advances. As the industry has evolved, the ability for independent labels and content owners to secure advanced funding has diminished. The revolutionary Edge Funding Program serves the music community on two levels. For independent labels the program will allow Sound Royalties to work with music distributors to forecast and provide no-interest advances to indie labels with manageable terms.
For distributors, the Edge Funding Program will provide distributors extended opportunities for content acquisition in order to secure new deals and remain competitive without incurring debt.
“Retaining the rights to my music is extremely important and Sound Royalties was very helpful in creating a deal that did just that,” said Rich Robinson, founding member and guitarist of the rock and roll band The Black Crowes.
“Sound Royalties has a history of transforming the way creatives access funding,” said Sound Royalties Founder and CEO, Alex Heiche. “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.”
The Edge Funding Program mirrors Sound Royalties’ leading company core value of allowing creatives to retain their rights. By providing advances to labels via their distribution partners, this program empowers the label’s hard-fought independence and helps them retain and protect their content.
“Sound Royalties has been an incredible partner to Symphonic Distribution thus far and this program will only help expand on that great partnership that has already been forged,” said Jorge Brea CEO of Symphonic Distribution. “Utilizing Sound Royalties has enabled us to strike unique and key deals with labels and artists that allow us to really help elevate individual release campaigns as well as our clients.”