CREATE LAUNCHES A CREDIT CARD FOR CLIENTS

Create Music Group announced Tuesday (2/2) that it has launched a first-of-its-kind credit card, Create Carbon, that will allow artists and creators to access royalty funds.

CMG clients will be able to draw on their royalties as soon as they're earned, rather than wait to receive them in 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 six 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."

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.

Co-founder and COO Alexandre Williams added, "We have seen firsthand that financial transparency and predictability inspires our clients to accelerate their creative output and invest in their careers. Our hope is that Create Carbon is just the first in an array of financial tools and services we can offer artists and creators to enhance their businesses."

So artists can instantly access their royalties, eh? What's next, millennials playing the stock market from their phones?