We’re thrilled to announce our new partnership with chordCash, giving artists and labels easy access to royalty advances. Whether you’re planning your next music video, need to upgrade your equipment, or want to book studio time, we've got you covered.
What is a Royalty Advance?
A royalty advance allows you to receive an upfront payment against your future royalties. chordCash uses a data-driven approach to determine the amount you can receive based on your monthly listeners, streams, and historical revenue performance. The process is straightforward: answer a few questions, and chordCash takes care of the rest.
How Much Can I Get?
The amount of your royalty advance is calculated using your historical royalty reports. Advances are tailored to your specific terms, such as the length of the repayment period and the scope of works included.
Am I Eligible for a Royalty Advance?
Eligibility isn’t defined by strict criteria, as the decision considers various factors through chordCash’s algorithm. However, artists who have released music on major DSPs (like Spotify, Apple Music, YouTube, Amazon, QQ) and typically have between 10,000 to 10,000,000 monthly listeners are most likely to qualify. Artists who have maintained these levels for several months and have a passionate, engaged fan base (both on and off streaming platforms) are also more likely to be eligible.
Can My Advance Be Negotiated?
In short, no. However, you have the flexibility to adjust and choose:
- The length of the term
- The scope of works included (e.g., specific new releases and/or catalog works)
- The amount of income you retain before your advance is repaid
While you can tailor these aspects, the advance amounts are non-negotiable. They are determined by a sophisticated, data-driven system designed to help you recoup on schedule based on the terms you select.
How Do I Get Started?
Log in to your Spare Music account, click on "Tools," and then select the "Royalty Advance" option. You’ll be guided through the process from there.