The Los Angeles-based music-technology company Create Music Group has launched Create Carbon, a credit card that it says will give music creators the ability to access their royalties as soon as they’re earned, rather than waiting to receive them via regular monthly payouts.
“Traditionally in the music industry an artist is lucky if they receive streaming royalties within 60 days and it’s not uncommon for artists to wait 6 or even 12 months to get paid,” said Jonathan Strauss, Founder and CEO of Create Music Group. “Our algorithmic technology enables us to accurately predict earnings for our clients on a daily basis and Create Carbon allows us to deliver that money to them in real time as soon as it is earned.”
View this post on Instagram
Initially launching as a pilot, Create Carbon is being rolled out to select Create Music Group clients beginning today. The card gives clients immediate access to their earnings. Because the revenue is based on actual earned income, the company will charge only minimal fees or interest, yet clients can use Create Carbon just as they would any other credit card.
Create Music Group was founded by Strauss and Alexandre Williams in 2015 to track and collect YouTube royalties for independent artists. It has grown into a company with more than 125 employees that handles rights management, distribution, music publishing and advertising.