On Tuesday, Apple Music told independent record labels that it is launching a $50 million advance-royalty fund to make sure artists get paid during the coronavirus pandemic.
According to a letter sent to the labels and obtained by Rolling Stone, independent labels that earn at least $10,000 in quarterly Apple Music earnings will qualify for the royalty advances. “These are difficult times for the music industry globally,” the letter says. “Livelihoods are at risk, with multiple sources of income that our industry relies on vanishing overnight. Apple has a deep, decades-long history with music, and we are proud to be in close partnership with the best labels and artists in the world. We want to help.”