There are no “hard lines” that deterimine exactly which artists can and cannot get funding because there are so many factors that go into our algorithm, but Artists who have released music on major DSPs (Spotify, Apple Music, YouTube, Amazon, QQ) and typically have as little as 10,000 and as many as 10,000,000 monthly listeners are most likely to qualify for funding. Artists who have been within those ranges for more than a few months, and who have more passionate and engaged fans (inside and outside the streaming services) are more likely to qualify as well.
What If I don’t recoup my advance in the term?user2021-06-22T07:18:43+00:00
Most artists will repay their advance right when the term ends, or a few months before. That’s how our data science team models the deals we offer. But if your music doesn’t generate enough income to repay your advance during the term, we’ll collect until you are repaid, and no longer. We won’t add any balance to your advance if you are late, and we won’t charge any interest or penalties.
What if I get a label offer that is just too good to pass up in the middle of my term?user2021-06-22T07:19:07+00:00
Great question. We don’t want to hold you back. Our standardized contract includes a “buyout” clause that will let you buy out of the rest of the term with those big label bucks. Your buyout price is based on a formula that’s set ahead of time so there’s no doubt or need to play negotiation games. It’s based on how much you’ve recouped, how much revenue you’ve generated in the term, and how much time you have left on your term
Do I need to release new music to receive funding?user2021-06-22T07:19:28+00:00
No. We are happy to advance funds against your existing catalog, but many artists will find that the funding amounts we can provide are significantly larger if they plan to release new music in the next 6 to 12 months.
A large share of your advance will be paid within a week of signing your contract. The remainder will be paid when you release new music, if its covered in the deal. Any “flow through” income you are due before your advance is recouped will be paid within 7 business days after we receive it from your distributor
How do you decide how big an advance to give?user2021-06-22T07:20:13+00:00
Two things determine the size of your advance. First, your data. Your streaming data and a whole lot more data beyond that is used to make an estimate of your future earnings. Second, your advance is driven by the terms you choose. You are in control. You choose if your deal will include some or all of your catalog, and how many unreleased tracks it will include (or if it will include no new tracks at all). You choose how many years you want the deal to be. Finally, you choose how much of your streaming income you need to keep during the term, even before your advance is repaid. All those tradeoffs impact the size of your advance, and all of them are up to you.
Is this a loan? Will it effect my credit?user2021-06-22T07:20:32+00:00
No, we don’t think so. We took literally BILLIONS of data points on hundreds of thousands of artists and milllions of songs to build some really smart algorithms that predict an artist’s future earnings because we think we can make smart bets on artists, we can also offer better terms (higher royalties, faster timeframe to get back to 100% control of revenues) than a traditional label deal.
Do I need to have a manager in order to receive funding?user2021-06-22T07:21:09+00:00
We work with any and all genres. Classical, Trap, Waka, Jazz, Christian Pop, Prog Rock, Canadian Country, K-Pop, Hip Hop, Dance, Pop, Assyrian Folk, Latin Rap, Sufi, Deep Trance, Ranchera, Bhajan, Norwegian Death Metal… you name it….we are open to making an advance if the data is right.
Can I receive additional funding if I’m going to release new music before my term is complete?user2021-06-22T07:22:00+00:00
· Scope of works included (a certain number of new releases plus catalog or catalog only)
· Amount of income you keep even before your advance is repaid
And while we give you flexibility to choose the value of those terms, we don’t negotiate beyond that. The advance amounts presented to you are calculated by a complex data-driven system our team has created to put you in the best position to recoup on schedule with the length of term you select.
You said I don’t qualify for an advance. Why?user2021-06-22T07:22:39+00:00