UnitedMasters is now providing $1m advances to indie artists, plus real-time streaming royalty pay-outs

UnitedMasters has announced two exciting new funding instruments for indie artists, thanks to partnerships the company has forged with a duo of potentially breakthrough music technology companies.

The first tool launched in partnership with beatBread enables UnitedMasters to offer qualifying artists advances ranging from $ 1,000 to $ 1 million.

BeatBread’s ChordCash tech engine, headquartered in Utah, analyzes streaming and social media data from artists to generate upfront offers that, when combined with a “streamlined” verification and documentation process, result in upfront funding within of days ends up in the artist’s bank accounts.

“The beatBread team shares a common vision with UnitedMasters. Our mission is to empower independent musicians by expanding access to capital so that neither ownership nor artist choice is sacrificed, ”said Peter Sinclair, CEO of beatBread. “We are excited to work with this forward-thinking team to drive independence in the new music industry.”

UnitedMasters isn’t the only music distribution / service company to partner with beatBread: companies like Symphonic Distribution, Horus Music, and Indie Amplify have also recently signed agreements with the company.

“The beatBread team shares a common vision with UnitedMasters. Our mission is to empower independent musicians by expanding access to capital in such a way that ownership or choice of artists is not sacrificed. ”

Peter Sinclair, beatBread

Where does beatBread get the money from to advance artist cash? Investors looking for returns.

BeatBread’s website encourages accredited investors to provide the fixed cash to invest in artists, while also advising that this model offers funders “high growth with high potential returns”.

BeatBread assures investors that their “data science team has hundreds, sometimes tens of thousands, of data points on each artist we fund.”

Sinclair confirmed in a Medium article when beatBread was launched in late 2020: “Some artists can qualify for advances of 8 times their annual turnover, some less, some more.”

The second of UnitedMasters’ major new financial partnerships is with Paperchain.

Founded by Australian Daniel Dewar, Paperchain uses algorithms to predict an artist’s royalty income based on their latest streaming data.

That money is then paid out to Acts in real time via Paperchain’s digital wallet and card. (Paperchain is not a bank itself, but works with Evolve Bank & Trust and Stripe Payments to provide its services.)

ACTS

“UnitedMasters is an ideal partner who shares our vision of making streaming income instantly accessible and, with us, creating the expectation that YouTubers don’t have to wait to get paid.”

Daniel Dewar, Paperchain

Daniel Dewar, CEO and Founder of Paperchain, said, “We are excited and honored to announce the collaboration between Paperchain and UnitedMasters to launch instant payments for independent creators.

“UnitedMasters is an ideal partner who shares our vision of making streaming income instantly accessible and, with us, creating the expectation that YouTubers don’t have to wait to get paid.”

BeatBread and Paperchain are joining SplitPay, the financial instrument developed by UnitedMasters, which enables subscribed “Select” artists on the platform to share their earnings with employees and team members and to calculate who should get what.

Steve Stoute, UnitedMasters CEO and Founder, said, “One of the biggest hurdles for independent artists is access to finance and funding. UnitedMasters is # 1 for creators to make a living and build careers while remaining independent, and providing financial solutions to these artists is just one more step to level the playing field.

CEO and Founder

“UnitedMasters is # 1 for creatives to make a living and build careers while remaining independent.

Steve Stoute, UnitedMasters

“With these groundbreaking products and partnerships with beatBread and Paperchain, we are democratizing access to capital and will continue to aggressively invest in building a marketplace that will unlock an economic model for 99% of artists.”

BeatBread, headquartered in Utah, consultants include: Philip Wild, a music lawyer on the artist side and former SVP of Business Affairs at EMI, Colin Finkelstein, former COO of EMI North America and CEO of music management company COFINK, and Vibs Abhishek, former chief data scientist at Sequoia Capital.

Since starting in November 2020, beatBread has funded well over 100 artists across multiple genres.

Paperchain’s website shows that alongside Goldman Sachs, the Unified Music Group and Live Nation, Sony Music’s The Orchard is among the investors.

In March, UnitedMasters announced it would raise a $ 50 million financing round led by Apple and funded by Alphabet and Andreessen Horowitz.

The news marked another significant financial milestone for New York-based UnitedMasters after the company completed the $ 70 million funding round led by Google / Alphabet in 2017.Music business worldwide

Comments are closed, but trackbacks and pingbacks are open.