Let’s face it–most creatives in the industry can’t rely on their ‘big break’ for sustained success. They’re great when they happen–but it’s entirely out of your control. Creatives have more options now than ever for developing sustained success. Here’s how.
The following was created in collaboration with Sound Royalties, a company DMN is proud to be partnered with.
Striking a new deal with a label, publisher, distributor, or even a PRO is just one half of the equation. Career development depends on reliable cash flow and access to capital, but many creatives face cash flow challenges.
You may have a killer series of concerts all lined up, but no funds to bankroll pre-tour production and perfect your show. You may catch wind of a new opportunity composing for games or trailers, but may not have the right equipment to act. You may want to support your next release with your new label by generating regular extra content, but need to hire outside help or set up a livestream-ready studio at home.
So how can creatives find the cash flow to advance their career?
A deal with a label or a new publishing agreement is just the beginning. In the music business, opportunities don’t wait around forever and timing is everything. Meanwhile, royalty tracking and payments can be slow and unpredictable. To solve this dilemma, Sound Royalties offers financing to music creatives who earn more than $5,000 a year in music royalties, without ever taking ownership of copyrights.
This financing is an accessible tool for all music creatives at any stage of their career—from emerging and mid-tier artists to household names with multi-million dollar catalogs. Financing should work to unlock new opportunities, but never take away the rights to your music.
Let’s take a peek at how thoughtful financing can help level up a musician’s career.
Gilde Flores is a musician, producer, and composer contributing to the scores of films like Wolverine and popular TV shows on Nickelodeon and HBO. He has created music for big brands (Mercedes, Hasbro, Xbox) sports leagues (NFL, NHL), and studios like Disney and Lionsgate. Flores is a self-taught multi-instrumentalist and often teams up with big producers like Timbaland.
Flores has received several key financing rounds thanks to Sound Royalties; he financed his first major studio upgrade using the platform. “Sound Royalties helped me with that first leveling-up, and that helped me develop my sound,” Flores says about his experience. “Pro-grade gear is pricey, so I gave Sound Royalties a call and I had a great discussion with my Royalty Specialist.”
“They were there to help me and guide me, while not trying to take my copyrights or any percentage of my music. They simply gave me an advance on my royalties to get the new gear I needed. Having the new computer, good keys, and monitors, my whole game went up completely. I actually had the capability to produce and learn more about composition,” Flores told Digital Music News.
Sound Royalties – How It Works
Gilde Flores utilized Sound Royalties for multiple financing advances to bridge the long period between finishing a project and the residuals. “I started getting placements and amazing opportunities. Visual media takes years to see things build financially, however,” he adds. “There are a lot of middlemen. Even if you compose something for a major film, it takes months to get compensated. I had to grow over time and get more independent.”
“To continue developing as a composer, I eventually invested in a custom computer. Music was paying for itself. It made sense to use my music to fund my music,” Flores continues. He was able to turn his cash-flow bottleneck into an opportunity to grow his business thanks to thoughtful financing.
What To Look For In a Financing Partner
Getting the financing you need for your business opportunities should come with some basic requirements. Your financing partner should be able to support your goals over the long-term; with experienced and professional specialists. That’s exactly what Sound Royalties offers. A cookiecutter, algorithmic approach doesn’t always work in the complex royalty business; every creative’s financial situation is different and takes a custom-tailored, consultative approach.
With Sound Royalties, royalty advances are creative-friendly, keeping you in control. The company does not require personal guarantees or credit history, and customizes multiple advance options with flexible terms for you to choose from. Their model does not require 100% recoupment of royalties, which enables you to continue collecting royalty income during the term of your advance.
Beyond never taking ownership of copyrights, the company doesn’t even take a percentage of your future earnings. Everything is spelled out with a fixed fee over a fixed term, so you know exactly what you’re paying back and for how long.
Whether you’re independent or in an existing label, publishing, or distribution deal, Sound Royalties can work with you to get the funding you’re looking for. If you’re in an existing deal, they work alongside those organizations to help you maximize your streams and gain more capital to grow.
Who Is Sound Royalties?
Sound Royalties is the music industry’s largest royalty finance firm for creatives and introduced the unique, artist-friendly model it uses today. The company serves thousands of creatives across 14 countries and works with more than 130 PROs, publishers, distributors, and labels on three continents. Sound Royalties is able to work with all types of royalty streams to maximize, clients’ options, going far beyond solely music streaming platform revenues. Business for the company nearly doubled in 2022, a testament to the strong relationships they have built and the trust they have established within the industry.
You do not have to be an independent musician to work with Sound Royalties. They do not compete with or replace PROs, labels, publishers, or distributors–their financing works alongside these organizations. Sound Royalties has worked with accomplished creatives like DJ Khaled, music producer David Tickle, songwriters Sonia Leigh, Steve Dorff, and Larry Weiss, among many others.
“We’re growing because we are serving artists, songwriters, producers, and other music creatives in the way that makes the most sense for their professional and personal plans,” adds Sound Royalties CEO Alex Heiche. “We’re always listening to what our customers need on a case-by-case basis and putting together personalized solutions that make financial sense.”