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Apple Music Launches $50M Advance Fund for Indie Labels During Coronavirus

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www.billboard.com

One-time payments on future royalties are available to labels and distributors that earn over $100,000 per quarter and have direct deals with the streaming service.

Apple Music has created a $50 million advance fund to help independent labels and distributors weather the downturn due to coronavirus, industry sources tell Billboard.

The funds will be available through a one-time advanced payment on future royalties for labels and distributors that earn over $100,000 in quarterly revenue from Apple Music.

Labels and distributors must have a direct distribution deal with Apple Music and thus cannot be distributed by major labels.

Read more on billboard.com
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