Advance
Type: noun
Pronunciation: /ad-vans/
Plural: Advances
Related: Recoupable Advance
What does Advance mean? An upfront sum of money paid to an artist, songwriter, producer, or rightsholder by a record label, distributor, or music publisher against their future earnings.
Money paid to an artist, songwriter, producer, or rightsholder before the recording or release of a song or recorded work.
An advance is a record deal is money paid by a publisher, record label, etc. to an artist or songwriter before the recording or release of a song or recorded work.
Example sentence: “When she signed, her advance was $800k.”
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