Beatport Temporarily Halts Royalty Payments
“In the meantime, feel free to contact your label manager with any questions.”
Morgan Geist, who makes music as Storm Queen—his “Look Right Through” hit No. 1 in England with the help of an MK remix—shared a letter from Beatport last night on Facebook wall. The memo contained bad news for makers of dance music: “Beatport’s parent company, SFX, is currently involved in a ‘going private’ process that has trapped certain earned label payments. This process will be coming to an end in the next few weeks, at which time all payments will be able to be made.” Geist added a dry comment of his own, noting that Beatport, “Couldn't seem to find the word ‘Sorry’ in this email.”
Music Business Worldwide determined that the missing royalties cover the last full quarter, from April through June, and suggested that the lost income might be especially damaging to small labels, which have less of a cushion against revenue fluctuations.
Last month, Beatport and Spotify announced a new partnership.