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 shall 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 20 years within the music trade, together with six years with Canadian efficiency rights group SOCAN the place she ran Canada’s Songwriters Corridor of Fame.

“We try to construct long-term relationships with our prospects in order that we are able to present them with the most effective funding options that match their wants.”

Alex Heiche, SOund Royalties

“We try to construct long-term relationships with our prospects in order that we are able to present them with the most effective funding options that match their wants, and which means discovering specialists of their markets who know precisely what music creators want. Vanessa matches that invoice completely,” Sound Royalties founder and CEO Alex Heiche stated.

Added Heiche: “We additionally need to proceed our work with sturdy companions in these areas to develop the general trade and create a secure, 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 usually produces many hit songs relative to market dimension.

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 vast open for this sort 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 vast open for this sort 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 want 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 targeted on the creator, not the establishment. Whether or not it’s funding on your subsequent venture, bridge funding, tour help, or grant matching, Sound Royalties is nimble, versatile and environment friendly,” Thomas added.

Sound Royalties stated the brand new regional arms will comply with the identical “artist pleasant strategy” 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 various 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 stated on the time.

In 2020, on the peak of the COVID-19 pandemic, the corporate launched a $20 million fund that supplied royalty advances for musicians with no charge.

Sound Royalties was acquired by Cinq Music Group mother or father GoDigital Media Group (GDMG) final 12 months in a “excessive eight-figure” ($50 million to $99 million) deal.

The corporate gives royalty advances of $3,000 to $10 million relying on how a lot an artist makes a 12 months in music royalties. It additionally gives catalog gross sales help by offering a short-term advance to help artists till they obtain their catalog revenue.Music Enterprise Worldwide