Sony Music Artists Have Withdrawn $50M Through Money-Out, Advance Options – Billboard

On Monday (Dec. 19), Sony Music Leisure (SME) shared a recap with the corporate’s artists and earnings members on the progress of its Artists Ahead initiative, which encompasses SME’s legacy unrecouped balances initiative, healthcare help, advances on projected earnings and extra.

Notably, the recap provides never-before-reported stats on Sony Music’s artist portal and real-time insights platforms. Launched in 2019, the options provide music creators and their groups “best-in-class” fee capabilities and real-time updates on consumption of their music and viewers engagement knowledge. In line with the corporate, artists and different earnings members have withdrawn practically $50 million mixed from each the cash-out characteristic, which permits customers to money out payable month-to-month account balances, and the real-time advances characteristic, which permits customers to obtain advances on qualifying projected earnings.

Newly introduced as a part of the recap is Sony Music’s current introduction of healthcare advocacy providers for on-roster and legacy artists in america, designed to make it simpler for artists to navigate the method of acquiring and using healthcare protection, discovering a physician, managing healthcare payments and extra. Since launching within the fall, this system has helped U.S.-based artists notice lots of of hundreds of {dollars} in healthcare price financial savings, based on the corporate.

The label first launched the Artists Ahead initiative in June 2021 with its legacy unrecouped steadiness program, which waives the unrecouped balances of artists who signed to Sony Music previous to 2000 and haven’t acquired advances since that very same 12 months. The next month, this system was expanded to incorporate songwriters, and this previous Might, Sony Music started providing eligibility on a rolling 20-year foundation — which means artists not initially lined by this system will change into eligible as soon as they hit the 20-year mark of signing with the label. In line with the Dec. 19 recap, eligibility notifications lately started going out to the primary group of qualifying artists and members underneath the brand new standards (those that signed with the label previous to 2001) in choose markets around the globe.

In September 2021, the corporate additional expanded Artists Ahead by launching “Artist Help,” an initiative protecting psychological well being providers for its artist roster. In line with the Dec. 19 recap, over 100 artists globally have since been supplied with data and help associated to this system, with dozens throughout greater than 12 international locations having utilized these providers to determine recurring classes with a licensed therapist or obtain in-the-moment help to cope with “acute points.”

You’ll be able to learn the full recap right here.