The music marketplace says a resolution is coming soon.

Beatport will pay out previously frozen royalties next week.

In an email to those affected, the company said: “We deeply regret any hardships this delay has placed on members of the creative community — especially independent labels and artists, who are the lifeblood of electronic music culture and who have been long standing partners and suppliers to Beatport since 2004.

“We are truly sorry this has happened, and that we allowed payment distribution to get caught up in unrelated matters.”

SFX Entertainment CEO Robert F.X. Sillerman (visible in GIF form below) added: “I regret that unrelated elements made Beatport delay some payments for the first and only time in its more than 10 year history.”

“The way we handled this was inexcusable and should never have happened. The thousands of creators who have made Beatport what it is today deserved better, and I am deeply embarrassed, both personally and professionally, by what has happened.”

Beatport originally said to labels that it would be unable to make payments due to the store’s parent company, SFX Entertainment, reverting back to a private company. [via RA]




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