SOL Distro has partnered with beatBread to create a new funding route for eligible independent artists, giving them access to advances based on their existing music royalties. The partnership is designed to provide artists with capital they can use to support different areas of their careers while retaining ownership of their music.
Through beatBread, artists can access funding based on their music earnings. The available advances range from $1,000 to $10 million, depending on an artist’s eligibility and royalty history. The funding can be used for projects and career activities including recording new music, producing music videos, marketing, touring and other professional development.
Speaking about the partnership, SOL Distro founder Siyabonga “Slikour” Metane explained that artists earning around R1,750 or more in royalties could potentially qualify for an advance. For independent artists who are saving their own money for expenses such as music videos, social media promotion and photoshoots, the partnership provides another way to access capital using their existing royalty earnings.
The funding model also applies to artists with established catalogues. An artist may own a larger body of music, whether they are a legacy artist or an active artist with a consistent catalogue, and may want to raise capital for a specific project without giving up ownership of their rights.
The SOL Distro founder encouraged artists to consider the funding option rather than automatically giving away ownership of their music. Through the partnership, eligible artists can receive an advance against royalties while continuing to own their music.
SOL Distro has been operating for 12 months and has focused on building infrastructure and providing independent artists with support, resources and greater transparency. The addition of funding through its partnership with beatBread expands the services available to artists using the platform.
For independent musicians, access to capital can play a role in how quickly they are able to execute projects. Instead of waiting until enough personal funds have been saved, eligible artists can explore an advance against their existing royalty earnings and put that money toward their next stage of work.
The SOL Distro and beatBread partnership therefore introduces another financial option for independent artists looking to invest in their music careers while maintaining ownership of their work.
