Alongside our partners at RoyFi, we are the first music company to offer on-chain royalty advances to artists.
Royalty advances are essential to musicians because they provide a source of upfront income before the actual royalties from music sales and streams start coming in. This can be particularly useful for musicians who are just starting out, or for established musicians who need financial support to produce new music, pay for promotional activities, or cover living expenses.
A royalty advance is similar to a loan that a record label or publishing company provides to a musician, based on their expected future earnings from music sales and streams. The advance is then recouped from the artist's future royalties. In other words, the artist repays the advance by dedicating a portion of their future earnings to the lender. In combination with our Royalty Tool and blockchain payment rails, we can offer accurate and fair advances to musicians across the world.