LOS ANGELES, July 20, 2021 / PRNewswire / – beatBread, the pioneering music fintech company, steps up support for musical talent by activating deals that allow the company to provide financial advances of up to $ 1 million for an individual artist for the first time.
The company, founded last year by senior executives in finance, music and AI technology, helps music creators access funding without sacrificing ownership.
In addition to providing funding for existing music catalogs, beatBread only allows artists to obtain funding for unreleased music. The advances, which range from $ 1,000 at $ 1 million, are reimbursed from a share of an artist’s distribution and distribution income, over a period of the artist’s choice. beatBread uses its revolutionary chordCashAI ™ artificial intelligence technology to translate hard data into simple chords that artists can adjust and customize to suit their individual needs.
BeatBread’s pre-agreements leave the revenue streams of touring, editing, timing and merchandise intact. beatBread does not limit how funds are used or dictate the choice of an artist’s marketing or distribution partners.
Pierre Sinclair, CEO and co-founder of beatBread commented, “More and more artists need access to funding, and no one should be forced to sacrifice ownership to advance their career. rather than those who simply offer the biggest check. The freedom and choice of artists leads to better music, and more. “
Sinclair added, “While we are happy to offer six- and seven-figure advances to artists who have built large audiences, funding for emerging artists is arguably more important to our mission. $ 1,000, $ 5,000 or $ 50,000 Advance is a tool that talented artists can use to develop their careers and create leverage for the future. “
Since the launch in november 2020, beatBread has funded over 100 artists across multiple genres, 4 continents and a wide range of career stages. In addition to individual artists, beatBread has partnered with independent labels and artist service companies to better empower more artists.
BeatBread advisors include Philippe Sauvage, lawyer specializing in music on the artist side and senior vice-president of commercial affairs at EMI, Colin finkelstein, former COO of EMI North America and CEO of music management company COFINK, Vibs Abhishek, former Chief Data Scientist at Sequoia Capital and professor at UC Irvine, and Kei Henderson, Artist Manager and Founder of the innovative artist services company SinceThe80s.
For more details, contact:
Phone. : 718-687-8994
E-mail: [email protected]
beatBread is a pioneering music and financial company that empowers artists to take control of their careers without giving up their music ownership or decision-making power. Founded in 2020, beatBread brings together a team with deep experience in music, finance, artificial intelligence and machine learning to create new opportunities for artists and their managers. beatBread provides independent and unsigned artists with financial advances that are repaid by a limited share of streaming and broadcast revenues, over a period of the artist’s choice. The company is headquartered in Utah with offices in Los Angeles, Miami and new York. For more details, visit www.beatbread.com.