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Traxsource will return missing royalty payments from past 11 years

The online music store has announced a repayment scheme

  • Mixmag staff
  • 16 October 2015

Digital music retailer Traxsource is launching a royalty repayment scheme.

Having been open for 11 years, mainly selling house and techno releases, the company will return any owed money, that may have been held by a third-party, to artists and labels it's worked with since its launch, according to RA.

During a talk at the Amsterdam Dance Event (ADE), the company explained that the ever-changing copyright licensing landscape of digital music played a part in payments being held by escrow (a third-party).

"Traxsource became one of the first digital retailers to enter into licenses where possible around the world and to get a grasp on the actual percentage payable for copyright licenses. As a result, Traxsource can now give the extra money held in escrow back to the labels and music makers."

News of this arrives after the SFX Entertainment-owned Beatport was forced to freeze royalty payments to labels.

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