Steve Stoute wants indie artist to take it to the next level without the crappy contracts from labels. It’s time for Indie Artists to shine. Read on…
The veteran record executive Steve Stoute newly-launched venture will be helping rising artists get their music on major streaming platforms such as Spotify, Pandora and Apple Music.
Stoute’s UnitedMasters was launched with $70 million in funding from Silicon Valley investments, including companies such as Alphabet Inc., Andreessen Horowitz and 21st Century Fox, with NewsCorp sharing common ownership.
The new venture is based in San Francisco, Calif. and has been building a 40-person team that will help artists market themselves to reach fans, as well as help brand themselves to certain types of fan bases.
Stoute said in a statement:
“We want to build a business that helps musicians, which is my passion, and also helps brands find a much more specific way of investing their money in the category of music.”
UnitedMasters is ready to give musicians an alternative to exploitative record label deals.
With UnitedMasters artists are able to sign up for accounts with the venture. Basically, artists will pay what the Translation founder describes as the “the lowest price for distribution” to have their music streamed on music sites on the Internet. However, Stoute a team that will be scouting YouTube and Soundcloud in search of what they consider to be promising talent to invest in. So far, 1,000 artists are working with the company.
The company will then pay the streaming companies following the songs being played, while also, in some cases, collect a small percentage of what artists earned from their songs being streamed. Of course, UnitedMasters gets a cut of what is made through the artist’s merchandising and ticket sales. The great thing about UnitedMasters is that creatives will still own the rights to their own music. – Tech Crunch
Congratulations to Steve Stoute and UnitedMasters on their new venture.