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Beatport

EDM News

Beatport Puts Freeze On Payments To Record Labels During ‘Going Private’ Phase

As SFX Entertainment is currently undergoing a $100 million lawsuit with former employees Gabriel Moreno and Lawrence Varva, SFX/Beatport is under fire once again as they have decided to freeze all payments to record labels.

Beatport has said that they will not be paying royalties to labels this quarter and will only pay 5% of streaming money for mixes.

Beatport informed record labels of the changing and said that payments will be frozen until parent company SFX Entertainment completes its privatisation procedures.

With the blocked payments covering three months of income (April to June), the delay could severly impact the stability of dance music labels.

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