Apple recently sent out an email to many of its signed smaller music labels, laying-out a good-faith plan for advancing royalty payments to artists in need. Apparently, the fund can provide up to $50 million in payments to help artists weather the ongoing COVID-19 crisis. Royalty advances will be offered to labels that earn at least $10,000 every quarter from Apple Music and have a direct distribution deal with the platform. The forwarded amount will depend on past earnings and will be deducted from future earnings on the platform. It’s definitely a nice and thoughtful gesture and Cupertino is not alone on this front. Amazon Music, Facebook, SiriusXM, Pandora, Tidal and YouTube Music have all pledged to contribute towards MusiCare’s centralized COVID-10 relief fund. Spotify is also on the list, even taking things a step further by allowing artist to run fundraisers on their Spotify pages and promising to match donations up to a total of $10 million. SoundCloud and Bandsintown have set-up ways for artists to monetize concerts, streamed via Twitch. While undoubtedly going through a tough time right now, the music industry does have some good news too. A notable increase in streaming user numbers, as with pretty-much any multimedia streaming service, now that people spend more time at home. Here’s hoping that will help artists power through. . . . . #applemusic #royalty #musiclabel #musiclabels #royaltypayments #artists #spotify #amazonmusic #facebook #siriusxm #pandora #tidal #youtubemusic #streaming #musicstreaming #techies #techies_page #tech #technology #usa #unitedstatesofamerica #uk #unitedkingdom #earn #covid19 #offered #labels #multimedia #germany #russia https://www.instagram.com/p/B-wZp3UAQeL/?igshid=mfylvppe3rf
