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Apple Music sets $50M fund for independent labels – Rolling Stone

Apple Music will launch a $50 million advance royalty fund to support independent labels, Rolling Stone reported, citing a letter sent to the labels.

Independent labels that have a direct distribution deal with Apple Inc.'s music streaming segment and that earn at least $10,000 in quarterly earnings on the platform will be entitled to the advanced royalty.

The advance payment will depend on the label's past earnings and is recoupable against the label's future earnings.

The fund is intended to help labels pay artists and cover operational expenses.