Aussie digital music distribution and artist services company GYROstream has today announced a new prepayment system to assist musicians in accessing future royalties dubbed GYROadvance.
The program, co-founded by GYROstream General Manager Andy Irvine and Viv Mellish, "uses data-driven algorithms to analyse the artist's current streaming for advance funding eligibility" and range from hundreds to tens of thousands of dollars in prepayments depending on current streaming numbers and expected future sales.
"Unlocking royalties early gives artists the flexibility to record more often, fund a tour, hire a PR or marketing expert and give their career a boost to that next level," Irvine said.
"Since launching GYROstream just over a year ago, we've helped over 2,000 artists release their music and we've noticed a trend of successful artists wanting to stay independent but having to wait for months before they can afford to pay for things that will give their career a kick.
"GYROadvance is designed to help musicians everywhere keep the power in their own hands as they take the next step."
To apply for GYROadvance, artists' music needs to be distributed by GYROstream and be generating income on a monthly basis. For more details. click here.
