As written yesterday, Beatport reveals that the company won’t be able to make its latest payments to record companies whose downloads it sold in the second quarter of this year, because the “going private process” (SFX boss David Sillerman is trying to buy back the company and put it back into private hands) has “trapped certain earned label payments”.
How the market is reacting to this bad news? we just recive a cool newlsetter from EPM
Although the Beatport memo says it hopes the whole process will be completed in a few weeks, after which outstanding payments can be made, in the time being, EPM will advance these payments to all label partners whilst the current situation is resolved.
Who is EPM:
EPM has been a digital distributor since 2003 noticing at the time the new ‘digital’ format and realising that this was to be the future of the music business at a very early stage. EPM offers a highly professional service for like-minded labels who release consistent catalogue and are about music business. We give our labels the tools and advise to make the digital distribution and sales of your release a success.
Jonas Stone (Director of PR & Promotions) says “As a digital distributor, publisher and fellow underground dance music label we understand only too well of the reliance on these payments to keep everyone’s label running where cashflow is often tight. Whilst we advance these payments to our label partners, Beatport remains a key sales platform for everyone in the dance music community and we look forward to them being back on track in the very near future.”