Opportunity for music publishers to apply for advance payment due to the Covid-19 crisis
At STIM we are doing everything we can to ease your situation and to dampen the effects of the crisis. We are therefore giving affiliated publishers the opportunity to apply for an advance on payments from STIM. The amount you, as a publisher, can apply for depends on how much you received in 2018 and 2019, as well as on the total number of applicants.
The last day to apply for advance payment is May 5, 2020. Keep in mind that if your application is successful your future payments will be reduced by an amount equal to the advance you receive. The reduction will start on July 1 2021 and be divided into equal parts applied over the subsequent ten quarters.
Please note that the opportunity to apply for advance payment is also open to individual rights holders. However, STIM will be unable to grant these individuals advance payment if your mutual agreement dictates that any payments they receive be routed through one of your accounts.
Please don’t hesitate to reach out should you have further questions or concerns. We are available as usual at [email protected] or by phone on 08-783 89 00.
Thanks for the cooperation – please take care of yourself and your loved ones.
Karsten Dyhrberg Nielsen, CEO STIM