unrecouped advances
Sony Music Says Artists Have Withdrawn $50M Using Its Cash-Out and Real-Time Advance Features
On Monday (Dec. 19), Sony Music Entertainment (SME) shared a recap with the company’s artists and earnings participants on the progress of its Artists Forward initiative, which encompasses SME’s legacy unrecouped balances initiative, healthcare assistance, advances on projected earnings and more. Notably, the recap offers never-before-reported stats on Sony Music’s artist portal and real-time insights platforms. Introduced in 2019, the features offer music creators and their teams “best-in-class” payment capabilities and real-time updates on consumption of their music and audience engagement data. According to the company, artists and other earnings participants have withdrawn nearly $50 million combined from both the cash-out feature, which allows users to cash out payable monthly account...
