In light of Beatport's failure to pay its labels for the last quarter, Music Week reported today that "trapped" royalty funds have been released to major labels, whilst small indie imprints are yet to receive their payments.
According to Music Week and as yet unnamed sources, its been confirmed that Beatport has already released a selection of royalities, whilst the UK’s indie trade body AIM has contacted Beatport demanding to see its members paid within 24 hours.
Music company, EPM (EPM Digital Distribution) also announced it will advance Beatport payments to its label partners, to help ease cash flow and prevent stagnation for smaller imprints.
Jonas Stone, Direct of EPM, said, “As a digital distributor, publisher and fellow underground dance music label we understand only too well of the reliance on these payments to keep everyone’s label running where cashflow is often tight. Whilst we advance these payments to our label partners, Beatport remains a key sales platform for everyone in the dance music community and we look forward to them being back on track in the very near future.”
Read the full statement from EPM here.
[Via Music Week]
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