For Backers - Even Better Terms of Use

Dear backers,

We have some news for you! Funding will now be paid back before any royalties are shared with the rightsholders, which means that backers have a much higher likelihood of getting their money back and making a profit. This means that campaigns will now have a number showing the return if the streaming goal is reached, but the actual streams needed for payback will be lower.

Let’s say you invested €10 and it gave you 10% of the song and no one else invested. If the song reaches its streaming goal, you would first get your money back, €10, then 10% of the rest, in this case €90. This means you would get €9 more, so in total you would get €10+€9=€19 or 1.9 times the money you invested. If the song streams less, the return is less, if it’s more, the returns are higher. All share the risk but also the success!

To reflect this change we’ve updated our Terms of use. We’ve also made some minor clarifications around how our fee is applied. You don’t need to do anything as all new campaigns will have this feature, but if you have any questions you can reach out to our support.

Have a great week and stay safe! 

Team Corite