Traxsource returns royalty payments from the past eleven years
Traxsource returns royalty payments from the past eleven years. The missing royalty payments is the payback put into place by the digital music retailer as part of their royalty repayment scheme.
Traxsource returns royalty payments now after having been functioning for eleven years. Traxsource the online music store mainly sells techno and house music releases.
The Traxsource returns royalty payments scheme will be ensuring that any and all owed money which may have been held onto by a third party is returned to the labels and artists since their launch.
They were at the Amsterdam Dance Event and during the talk they spoke about and explained that the ever evolving modern copyright licensing landscape of digital music played a part in payments being held by escrow or by 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.”
This story comes after the news that SFX Entertainment owned Beatport was forced to freeze royalty payments to labels.
The Traxsource returns royalty payments is therefore a truly honest, fair and forth right move by the digital platform.
If you have any releases on Traxsource you might even being seeing some payment sent back to you which makes this some pretty good news on a Monday.
Traxsource returns royalty payments, what do you make of this?