Apple Music Starts $50 Million COVID-19 Advance Fund for Indie Labels

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Rolling Stone:

Apple Music is the latest company to offer industry relief amid the coronavirus pandemic. It told independent record labels Tuesday that it is launching a $50 million advance royalty fund to make sure their artists get paid.

According to a letter sent to the labels and obtained by Rolling Stone, independent labels that earn at least $10,000 in quarterly Apple Music earnings will qualify for the royalty advances. To qualify, the indie labels must have a direct Apple Music distribution deal.
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