Music insiders report delay on three months worth of label payments from the music giant.
According to Music Business Worldwide, Beatport have been in contact with labels to relay news that they are delaying three months worth of payments, spanning April to June this year.
The lump payment was expected by labels on July 30th but the issue will reportedly not be resolved until parent company SFX Entertainment completes its privatisation process. Many small labels rely heavily on Beatport payouts, with some charting 90% of their income from the music platform. Frustration has already been expressed by artists and DJs alike, including The Black Madonna.
OK here's a little bit of the email. pic.twitter.com/ClCtqQj3NB— THE BLACK MADONNA (@blackmadonnachi) August 5, 2015
This comes as Beatport open up their doors to Soundcloud style user generated content, where according to the T&Cs, DJs receive 10% of a download sale but artists are only set to expect a mere 5% income for the streaming of their music.
Beatport's entry into the streaming game could be another royal rumble for Soundcloud, who seemed to be in choppy waters last week.