Apple Music starts $50 million fund for indie labels

Apple Music is launching a $50 million advance royalty fund for indie labels, to offer them relief in time of coronavirus epidemic, the Rolling Stone reports. Independent labels that earn at least $10,000 in quarterly Apple Music earnings will qualify for the royalty advances. To qualify, the indie labels must have a direct Apple Music distribution deal. "Apple has a deep, decades-long history with music, and we are proud to be in close partnership with the best labels and artists in the world. We want to help” - Apple said in its letter to the indies.