Universal Music Group to Waive Unrecouped Advances For Legacy Artists

According to reports, Universal Music Group announced a program for select legacy artists to receive their royalties without recouping advance payments.

It was noted that eligible artists would receive royalties backdated to the beginning of 2022. The company didn’t reveal who would be a part of the program or who would qualify. Previously, UMG launched a program that mirrors this new one in 2001. The program reportedly gave welfare and health grants to artists and their families with a UMG royalty account. The catch was that Universal had to own the relevant label exclusively.

In the past, Warner Music and Sony Music made similar announcements. Last year, Sony Music’s announcement found them saying they would pay out royalties to artists and producers who signed to the company before 2000 and haven’t recouped their record advances.

source: Billboard

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