LIL WAYNE RECEIVES BACKING FROM ARTIST FINANCE FIRM SOUND ROYALTIES
Artist financing firm Sound Royalties has teamed up with Lil Wayne to help finance a number of new projects for 2018 while he’s locked in a legal dispute with Cash Money and Universal Music.
Backed by over $18 billion in assets under management, Sound Royalties provides financing to assist artists with funding personal and professional projects.
It does that by advancing performance royalties paid through labels and Sound Exchange, songwriter royalties paid through music publishers and PROs, and music streaming royalties.
It claims to deliver the most artist-friendly solutions, and leaves full rights to copyrights and catalogues with the music professionals.
Across a 20-year career, Wayne has released eleven studio albums on Cash Money Records, which is where he launched his own imprint, Young Money, in 2005.
In 2015, Wayne filed a $51 million lawsuit against Cash Money over alleged contract violation, seeking to end his contract with the label and take his Young Money signings with him, which include Drake and Nicki Minaj.
A year later, Wayne filed a $40m lawsuit against Cash Money distributor Universal Music Group over a dispute relating to the profits made by signed artists.
As a result, his twelfth studio album Tha Carter V has been long delayed.
“Nothing is going to hold back my creativity this year,” said Wayne.
“SOUND ROYALTIES UNDERSTANDS THE MUSIC WORLD AND IS HELPING ME UTILIZE MY PAST SUCCESSES TO FUND AND PROPEL NEW PROJECTS AND TO CONTINUE CREATIVELY EVOLVING.”
“I am very excited to be teaming up with Sound Royalties to help bring my plans for 2018 to life.
“Sound Royalties understands the music world and is helping me utilize my past successes to fund and propel new projects and to continue creatively evolving.”
“SOUND ROYALTIES’ MISSION IS TO MAKE THE LIVES OF MUSIC PROFESSIONALS EASIER, RATHER THAN MORE COMPLICATED AS IS MUCH TOO COMMON IN THE INDUSTRY.”
ALEX HEICHE, SOUND ROYALTIES
Sound Royalties Founder and CEO Alex Heiche said: “Sound Royalties’ mission is to make the lives of music professionals easier, rather than more complicated as is much too common in the industry.
“Our team provides artists, songwriters and producers with what they need to focus on the music and keep creating the songs that lift us all up and make our lives better.
“We are thrilled to be working with Lil Wayne and look forward to witnessing the continued musical excellence he will deliver in 2018.”