Beatport has recently written to labels saying they won’t be paying royalties for the past quarter until SFX Entertainment completes the process of going private. SFX’s process of going back to private has gotten in the way of certain labels receiving their earned payments. Beatport plans on giving everyone these payments as soon as SFX’s process has been finalized. Beatport believes the process will be coming to an end in the next few weeks.
While SFX finalizes their process, Beatport is now working with SoundCloud by authorizing anyone to upload and monetize their own original tracks onto the platform. Although this sounds like a great idea, artists aren’t getting the best deal. According to the terms and conditions of Beatport, it will only pay 5 percent of income for plays. Artists have been hesitant about doing this because of Beatport’s conditions. It seems as though Beatport has been added to the ever-growing list of streaming sites going through a rough patch.
Our parents company, Symphonic Distribution, announced that it will still be paying artists and labels the trapped royalties despite the delay.