United Masters, a music distribution / service company, has announced its partnership with two vital financial firms, beatBread and Paperchain. With the collaboration of the companies, UnitedMasters is offering independent artists who do not have a label cash advances of between $ 1,000 and $ 1 million, according to Music trade around the world.
With the help of both financial tools, the business can determine the future value of an artist. BeatBread, headquartered in Utah, owns the ChordCash technology engine, which determines how many bids an artist receives in advance based on musician streaming and social media data.
âThe beatBread team has a common vision with UnitedMasters. Our mission is to empower independent musicians by expanding access to capital in a way that does not sacrifice the ownership of the artist’s choice, âsaid Peter Sinclair, CEO of beatBread. The business will receive investments to deliver these cash benefits. Investors can expect a greater return on their investment once the artist becomes more successful. BeatBread assures investors that their “data science team has hundreds, sometimes tens of thousands of data points on every artist we fund.” With their âstreamlinedâ data verification process, artists can receive their money in just a few days.
Paperchain, the second major partnership with UnitedMasters, is founded by Australian Daniel Dewar. The company calculates the future value of artists’ royalties by analyzing their latest streaming data. Artists will be paid on the same day using the digital wallet and company card. Although Paperchain is not a bank, it has partnered with one, Evolve Bank & Trust and Stripe Payments.
UnitedMasters Founder and CEO Steve Stoute said of the new partnership with UnitedMasters: âWith these pioneering products and partnerships with beatBread and Paperchain, we are democratizing access to capital and we will continue to invest aggressively in construction. of a market that frees up a model for the 99% of artists.