The dance music specialist has written to its label clients affected by the procedure to advise them that payments due from the last quarter (April – June) are currently ‘trapped’.
However, the company told PRS for Music yesterday that the collecting society’s members will not be affected by the freeze.
SFX, Beatport’s parent company, is undergoing an extensive restructuring, which includes chief executive Robert Sillerman purchasing the company to take it private.
The process is expected to complete during the fourth quarter of 2015.
However, the company told PRS for Music yesterday that the collecting society’s members will not be affected by the freeze.
SFX, Beatport’s parent company, is undergoing an extensive restructuring, which includes chief executive Robert Sillerman purchasing the company to take it private.
The process is expected to complete during the fourth quarter of 2015.
