Florida-headquartered finance firm Sound Royalties has expanded into the US West Coast, appointing Andrew Stess and David Blutenthal of music, gaming, and media consultancy firm StessCo to lead the new unit.
“Our representatives aim to understand a creative’s funding goals before offering them a customized financing plan, and there’s no better way to do this than by hiring globally savvy, but locally knowledgeable music industry representatives like Andrew and David,” Alex Heiche, CEO and founder of Sound Royalties, said.
Stess has spent 25 years in the music industry, working as a consultant for companies like LyricFind, Dash Radio, Tuned Global, Music Story, Wyze, Melodie, Dash Radio, Span Digital, and more.
Blutenthal is described as “a patent-holding innovator” who “specializes in supporting companies and entrepreneurs as they grow”.
With StessCo, Stess and Blutenthal served as advisors, educators, and “cross-pollinators,” according to Sound Royalties.
Through the new alliance with Sound Royalties, StessCo aims to work with artists, rightsholders, and music companies to secure financing to support their tours or their next big projects.
Sound Royalties has previously provided financing to artists like DJ Khaled, Lil Wayne, Pitbull, and Wyclef Jean. It helped Lil Wayne finance a number of projects in 2018. It offers royalty advances of $3,000 to $10 million depending on how much an artist makes a year in music royalties. It also provides short-term advance to support artists until they receive their catalog income.
The latestv and its networks in Nashville, Miami, New York, and overseas in Canada, the UK, and Latin America.
The West Coast launch came a month after Sound Royalties expanded into Canada, with Vanessa Thomas, a music industry veteran, named as the unit head.
“Our representatives aim to understand a creative’s funding goals before offering them a customized financing plan, and there’s no better way to do this than by hiring globally savvy, but locally knowledgeable music industry representatives like Andrew and David.”
Alex Heiche, Sound Royalties
“Our international and regional teams are essential to better serving our customers, meeting them where they are and providing critical capital to support their individual plans as creatives,” added Heiche.
Speaking about StessCo’s partnership with Sound Royalties, Andrew Stess said: “We love the people at Sound Royalties and truly believe in the product.”
He added: “David and I feel confident we can bring value to our network of artists and music professionals, and we’re already seeing some of the first fundings begin to take shape. It’s wonderful to support a strong company like Sound Royalties as they build more business in markets like Los Angeles and the Bay Area.”
Music Business Worldwide