iGroove bears a high economic risk with advances.
Therefore, we review every advance request for commercial aspects and calculate whether the advance can be recouped in a reasonable amount of time or not. These are usually the reasons for rejection.
We require access to your Spotify for Artists account solely for the purpose of creating the offer. Once you have received the offer from us, you can deactivate the access. Please note that we only have read-only access and cannot make any changes to your account or publish anything on your channels.
Granting iGroove read-only access to your Spotify for Artists account significantly simplifies the process of calculating advance payments. With this access, we no longer need to manually transfer numbers such as monthly listeners and followers. This allows us to calculate your offer much more quickly, and you will receive your payment much faster.
No, you will not be personally liable for the advance payment, as long as the contract is properly fulfilled. The advances only apply to the releases that are contractually agreed upon and do not need to be recouped with other releases unless stated otherwise.
The advance will be repaid solely with your revenues generated by the releases included in the advance contract.
The offsetting process will be done automatically on a monthly basis as soon as the revenues from the corresponding releases are received by iGroove and credited to your account.
Until the advance amount is fully repaid, your revenues will be automatically used for repayment. Once the advance has been fully repaid, the revenues will remain in your account and you can withdraw them.
Once your advance payment account is balanced, you can withdraw your earnings as usual. You will receive a monthly credit to your account and can transfer your balance to your bank or PayPal account at any time. The contract will continue until the selected term is reached and will be extended by another 6 months if not terminated. Once the contract has expired, you can apply for a new advance payment for the contract releases.
The advance only needs to be repaid with the releases that are part of the contract. As long as you fulfill your contractual obligations, you are never personally liable for the advance. If an advance has not been recouped by the end of the contract period you selected, the evaluation period for the relevant releases will be extended until the advance is fully repaid.
Your advance will be automatically deducted from your account along with your earnings from the corresponding releases until the advanced amount is recouped. You can choose the deal structure to affect the term.
The purpose of use is generally up to you. We provide the advance payment as an expression of our belief in your musical potential! Therefore, we assume that you will invest your advance in musical projects. Of course, you are not subject to any control or obligation to justify your expenses.
Generally, advances are transferred to your bank account within 2-3 working days after the contract has been concluded and the necessary data has been provided.
Several factors play a role in determining the advance payment amount. Your previous successes, sales/streaming figures, and reach primarily influence its amount. We use artificial intelligence to determine the amount and probability of future earnings. We do not calculate the emotional value or a “hit factor,” but rely solely on the facts and figures of your previous releases.
The amount of the advance depends on several factors, including your previous successes, sales/streaming figures, your reach, and the scope of the upcoming project. The advance is intended to be recouped through the earnings of the corresponding releases within a specific period. Therefore, the commercial potential of both you and the release also plays a crucial role. iGroove pays advances starting from EUR 1,000.
