Music Business Worldwide reports that Apple Music is quietly making a $50 million advance fund available for independent labels and distributors, to support the indie sector with vital cashflow during the uncertainty of global COVID-19 lockdown.
The article adds that the tech giant will inform independent labels and distributors today that any those who meet a minimum quarterly threshold of $10,000 in Apple Music earnings can qualify for one-off advance payments on future royalties out of the $50 million fund.
Qualifying indie labels and/or distributors must have a direct distribution deal in place with Apple Music. MBW says this rules out indie labels who are distributed by major record companies. Apple is telling the indies that it hopes the money will be used to “to help them pay artists and maintain operations,” the article adds.
