Record labels have had their Beatport payments frozen
The privatisation of the online retailer's parent company SFX Entertainment has led to the delay
Beatport's landed itself in hot water as news has surfaced that some payments to labels have temporarily been frozen.
Its parent company, SFX Entertainment, is going through the process of privatisation at the moment as its chairman, Robert Sillerman, buys it, and the online music retailer has detailed this as the reason for delayed payments.
However, Morgan Geist, aka Storm Queen, isn't happy with the way it's been handled, taking to Facebook to share an email he's received from Beatport.
Beatport can't seem to pay artists or labels on time right now. Couldn't seem to find the word "Sorry" in this...
Posted by Morgan Geist on Tuesday, 4 August 2015
As you can see from the email, Beatport is promising payments to come through in the next few weeks and thanks artists and labels for "patience and continued support".
According to
Music Business Worldwide, smaller labels are worse off as the frozen income for those covers the last three months (April to June) and was meant to come through on July 30.
[ Via: RA & Music Business Worldwide]
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