Non-credit based funding vehicle gives artists and songwriters easier access to cash, but also retain rights to music and royalties
Florida-based investment company, Sound Royalties has announced the implementation of a new non-credit funding service called Sound Check. Founded by CEO Alex Heiche in 2014, Sound Royalties is a funded one-stop source that helps music industry professionals get upfront cash and retain rights to music and royalties based on future earnings potential.
The company offers non-credit based advances and funding of anywhere from $5,000 to $10 million without having to deal with credit issues or lenders, while preserving all rights to the artist’s music. Sound Check was designed to help expedite access to up-front cash using future song and album royalties – doing so at reduced rates of one percent per quarter. Backed by $18 billion in assets under management, each transaction is directly funded by the company using its own cash, helping speed up payment. The company can also structure transactions ranging from one to six years.
In addition, the artist or songwriter never has to worry about relinquishing control or giving up the copyrights to their own material just to procure an advance to help defray expenses. Typically this can include everything from accelerated access to funds for debt consolidation/elimination, home purchasing assistance financing, as well as cash flow stabilisation to fund tours, new recordings, promotions and other miscellaneous expenses.
“Whether it’s paying for their kid’s college tuition, promoting their new CD, or simply treating themselves to something special, musical artists and songwriters who give the world so much should never have to worry about their own financial security,” says Heiche. “Unfortunately, today’s music business is trending towards increased live streaming combined with fewer traditional recording deals. This means that even established artists with hits rarely get paid on time. By directly addressing this issue head on, our goal in creating Sound Check is to help musicians meet their financial needs more efficiently so that they can continue to create great music for the rest of us to enjoy for many decades to come.”
To find out more about Sound Check and apply for funding, go to: soundroyalties.com