Sound Royalties says that it wants to help artists affected by PledgeMusic’s recent financial troubles.
The music finance firm is committing US$3 million to help fund the projects of PledgeMusic artists with 4% per annum royalty advances. The
Last month PledgeMusic accepted responsibility for late payments to “many artists” over the past year and then stated it is in discussions with “several interested parties” over a potential acquisition or partnership.
Earlier this month it advised artists via an email to “suspend” their campaigns.
Sound Royalties’ stated goal is to help artists advance their careers while retaining ownership of their creative works by advancing performance royalties paid through labels, Sound Exchange, as well as songwriter royalties paid through music publishers and PROs, and music streaming royalties.
The company offers additional services to music artists, including tracking and securing a wide variety of royalty streams across the globe.
The company is encouraging musicians impacted by issues at PledgeMusic to contact Sound Royalties by phone (1-844-4ALL-MUSIC) or email firstname.lastname@example.org for additional information.