You may by now be aware of the current situation at Beatport.
A memo sent by Beatport (published here by Resident Advisor) – reveals that the company won’t be able to make its latest payments to record companies whose downloads it sold in the second quarter of this year, because the “going private process” (SFX boss Robert Sillerman is trying to buy back the company and put it back into private hands) has “trapped certain earned label payments”.
Although the memo says it hopes the whole process will be completed in a few weeks, after which outstanding payments can be made, in the time being, EPM will advance these payments to all our label partners whilst the current situation is resolved.
“As a digital distributor, publisher and fellow underground dance music label we understand only too well of the reliance on these payments to keep everyone’s label running where cashflow is often tight. Whilst we advance these payments to our label partners, Beatport remains a key sales platform for everyone in the dance music community and we look forward to them being back on track in the very near future.”
Director of PR & Promotions