Data
Beatroot Music teams with RoyFi to accelerate access to royalty advances
Independent music distributor Beatroot Music, part of the Made in Memphis Entertainment (MIME) family of companies, is becoming the first music company to integrate RoyFi‘s service allowing musicians, producers, and songwriters to access advance funding.
“Qualified artists on the Beatroot roster will now have access to accelerated advance funding decisions from RoyFi, receiving an offer in as little as 60 seconds from submitting an application,” said the company. “Beatroot artists can easily apply for advances on their royalties by filling out the RoyFi form on the Beatroot website at beatroot.com/getadvance.”
“RoyFi is doing vital work for the independent artist community, providing the kind of advances that can make a real impact on their career trajectory. It was a great fit with the work we do at Beatroot, and we couldn’t be happier to offer our artists near-instantaneous funding decisions through this integration,” said Steve Corn, Director of Operations at Beatroot. “We are always looking for ways to add more value for the artists on our roster, and we believe this will make a huge impact quickly for those who qualify.”
Transparent, artist-friendly advances
After analyzing the royalties generated by their tracks on streaming services, RoyFi will offer qualified artists an advance funding amount while maintaining 100% ownership and control of their rights. Beneficiaries can then choose whether to accept the full advance or just a portion of the funds offered. Once accepted, advances are distributed to artists and paid back to RoyFi through royalties generated by the artist’s catalogue.
“We could not have picked a better company to launch our first RoyFi integration with than Beatroot,” said Dawn Griffith, Co-Founder and COO of RoyFi. “Their roster is packed with talented artists, and we can’t wait to help them get a leg up on the competition with our transparent, artist-friendly advances.”
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