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Beatroot Music teams with RoyFi to accelerate access to royalty advances

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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.”

Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Data

Music Story seals data partnership with Japan’s streaming service Line Music

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France's music metadata company Music Story has sealed a partnership with Japan’s subscription-based music streaming service Line Music, in a deal that will allow Line Music to improve the customer experience with Music Story’s metadata.

"Music Story will provide Line Music with the technology to improve the quality of its music metadata over a broad, Japan-centric footprint," said the company. Music Story datasets combines automated processing, including AI, with music expertise.

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Creative Industries

Kobalt unveils new Client Portal designed to provide accuracy, transparency and insight

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Independent music publisher and rights management company Kobalt has launched a new Client Portal, described as a "next-generation" tool that will bring to users "unprecedented levels of accuracy, transparency and insight."

The platform provides information on to real-time royalty payments, song-specific performance insights, and live sync updates. "The new Kobalt Portal sees the unveiling of an industry first across the royalty processing journey," explained the company. In particular, the...

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Data

RyteBox acquires SR1 from Exactuals

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Cloud-based music rights and royalties administration platform RyteBox has acquired SR1, a royalty calculation suite, from Exactuals, the rights management subsidiary of City National Bank. Terms of the deal were not disclosed.

RyteBox said the acquisition "greatly expands the capabilities and customer reach of both RyteBox and SR1." As a result of the acquisition, Joe DeCanio, President & CEO of SR1, and his team, are joining RyteBox and will continue to support the SR1 customers, said ...

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