Tech

Music distribution company UnitedMasters receives $ 50 million investment under Apple’s leadership

Independent music distribution company UnitedMasters, Apple Series B investment tour under the leadership of $ 50 million collected. Tura, previous investors Andreessen Horowitz (a16z) and Alphabet also participated. The company received a $ 70 million investment in the Alphabet-led tour in 2017. With Series B, the total investment amount the company has received to date has reached $ 120 million.

As a former executive of Interscope and Sony Music in 2017 Steve stoute UnitedMasters, founded in New York, offers music distribution services as well as marketing tools like analytics and royalty rates. With independent artists NBA, ESPN, TikTok, Twitch facilitates the establishment of associations between brands such as. UnitedMasters says there are currently 1 million artists on its platform.

In July of last year, the company launched Select, a new subscription option that allows 100 percent of royalties. UnitedMasters allowed artists to maintain control of themselves. In August 2020, TikTok signed an agreement with UnitedMasters to allow full integration between both services directly through the TikTok application.

Steve Stoute said they want all artists to have the same opportunity; He says that independent artists today have less chance of success and are trying to tackle this problem. That’s why the investment will be used to recruit mission-driven talent to make UnitedMasters global, he says.

Ben Horowitz, Co-Founder of Andreessen HorowitzUnitedMasters says it has completely changed the way artists create, own their work, and connect with their fans. He adds that they are excited to be working with Steve Stoute and his team to build a better, bigger, and much more profitable world for music artists.

Leave a Reply

Your email address will not be published. Required fields are marked *