Sound Royalties expands into Canada, with Vanessa Thomas named head of operations for the market

US-based finance agency Sound Royalties has expanded into Canada, appointing Vanessa Thomas as head of the brand new unit.

Thomas will likely be primarily based on the firm’s new Toronto workplace, which is able to function Sound Royalties’ regional hub for Canada.

Earlier than becoming a member of the corporate, Thomas spent over twenty years within the music business, together with six years with Canadian efficiency rights group SOCAN the place she ran Canada’s Songwriters Corridor of Fame.

“We attempt to construct long-term relationships with our prospects in order that we are able to present them with one of the best funding options that match their wants.”

Alex Heiche, SOund Royalties

“We attempt to construct long-term relationships with our prospects in order that we are able to present them with one of the best funding options that match their wants, and meaning discovering specialists of their markets who know precisely what music creators want. Vanessa suits that invoice completely,” Sound Royalties founder and CEO Alex Heiche mentioned.

Added Heiche: “We additionally need to proceed our work with robust companions in these areas to develop the general business and create a steady, affluent ecosystem of music creators, labels, distributors, and different music professionals, so that each creator can do higher.”

Sound Royalties says that it’s bullish on the Canadian market because it repeatedly produces many hit songs relative to market measurement.

The enlargement in Canada follows comparable strikes in London and South America.

“I’ve spent my profession working with creators and know the place the gaps in supporting them are,” in accordance with Thomas.

“The Canadian market is large open for this type of mannequin. It doesn’t exist right here, and it may be difficult for creators to search out advances for his or her subsequent tasks.”

Vanessa Thomas, SOund Royalties

Added Thomas: “The Canadian market is large open for this type of mannequin. It doesn’t exist right here, and it may be difficult for creators to search out advances for his or her subsequent tasks. Few establishments present this help. Advances are restricted and capped for a lot of Canadian creators

“We’d like faster and extra nimble enhances to present options. Offering choices, with out taking possession of copyright whereas permitting royalties to maintain flowing, is a mannequin that’s centered on the creator, not the establishment. Whether or not it’s funding to your subsequent undertaking, bridge funding, tour help, or grant matching, Sound Royalties is nimble, versatile and environment friendly,” Thomas added.

Sound Royalties mentioned the brand new regional arms will comply with the identical “artist pleasant method” in serving to musicians, songwriters, labels and different music companies maximize their potential to generate income.

Sound Royalties has beforehand supplied financing to artists like DJ Khaled, Lil Wayne, Pitbull, and Wyclef Jean. Again in 2018, it helped Lil Wayne finance a variety of tasks.

“Sound Royalties understands the music world and helps me make the most of my previous successes to fund and propel new tasks and to proceed creatively evolving,” Lil Wayne mentioned on the time.

In 2020, on the top of the COVID-19 pandemic, the corporate launched a $20 million fund that supplied royalty advances for musicians with out a charge.

Sound Royalties was acquired by Cinq Music Group father or mother GoDigital Media Group (GDMG) final yr in a “excessive eight-figure” ($50 million to $99 million) deal.

The corporate provides royalty advances of $3,000 to $10 million relying on how a lot an artist makes a yr in music royalties. It additionally provides catalog gross sales help by offering a short-term advance to help artists till they obtain their catalog revenue.Music Enterprise Worldwide