Our goal in creating Sound Check is to help musicians meet their financial needs more efficiently so that they can continue to create great music for the rest of us to enjoy for many decades to come. - Alex Heiche
West Palm Beach, FL (PRWEB) October 12, 2016
As a next step in its ongoing mission to increase economic mobility of deserving songwriters, artists and other adjacent sectors of the music industry, Sound Royalties today announced the implementation of a new non-credit based funding service called Sound Check.
Sound Check was designed to help expedite access to up-front cash using future song and album royalties – and doing so at reduced rates of 1% per quarter versus traditional music funding companies who often charge much higher rates or traditional banks who require excellent credit. In addition, the artist or songwriter never has to worry about relinquishing control or giving up the copyrights to their own material just to procure an advance to help defray expenses.
Typically this can include everything from accelerated access to funds for debt consolidation/elimination, home purchasing assistance financing, as well as cash flow stabilization to fund tours, new recordings, promotions and other miscellaneous expenses.
Backed by $18 billion in assets under management, each transaction is directly funded by the company using its own cash, thereby speeding up payment exponentially. Another added bonus is the flexibility it affords customers as the company can structure transactions ranging from one to six years.
“Whether it’s paying for their kid’s college tuition, promoting their new CD, or simply treating themselves to something special, musical artists and songwriters who give the world so much should never have to worry about their own financial security,” said Sound Royalties CEO and Founder Alex Heiche.
“Unfortunately, today’s music business is trending towards increased live streaming combined with fewer traditional recording deals. This means that even established artists with hits rarely get paid on time. By directly addressing this issue head on, our goal in creating Sound Check is to help musicians meet their financial needs more efficiently so that they can continue to create great music for the rest of us to enjoy for many decades to come.”
About Sound Royalties:
Founded by CEO Alex Heiche in 2014, Sound Royalties is a privately owned and funded one-stop source that helps music industry professionals get up-front cash and retain rights to music and royalties based on future earnings potential. The company’s core business is offering noncredit-based advances and funding of anywhere from $5,000 to $10 million without having to deal with credit issues or lenders while preserving all rights to the artist’s music. To date, Sound Check has worked with a wide range of leading music industry professionals, including platinum recording artists and notable music industry executives in every genre.