United Masters, a distribution/ service music company, announced their partnership with two vital financial companies, beatBread and Paperchain. With the collaboration of the companies, UnitedMasters offers indie artists who don’t have a label money advances between $1,000 and $1 Million, according to Music Business Worldwide.
With the help of both financial tools, the company can determine the future value of an artist. The Utah-headquartered beatBread owns the ChordCash tech engine, which determines how much an artist gets in advance offers based on the musicians streaming and social media data.
“The team at beatBread has a shared vision with UnitedMasters. Our mission is to empower independent musicians by expanding access to capital in a way that doesn’t sacrifice artist ownership of choice,” said Peter Sinclair, CEO of beatBread. The company will receive investments to offer these cash advantages. Investors can hope for a bigger payback in return, once the artist gets more successful. BeatBread assures the investors, that their “data science team has has hundreds, sometimes tens of thousands of data points on every artist we fund.” With their “streamlined” process of data verification, artists can receive their money in just a few days.
Paperchain, the second big partnership with UnitedMasters, is founded by Australian Daniel Dewar. The company calculates the artists future royalties value by analyzing their latest streaming data. Artists will be paid on the same day due to the company’s digital wallet and card. While Paperchain is not a bank, they partnered with one, Evolve Bank & Trust and Stripe Payments.
Founder and CEO of UnitedMasters, Steve Stoute, says about the new partnership with UnitedMasters, “With these pioneering products and partnerships with beatBread and Paperchain, we are democratizing access to capital and we will continue to invest aggressively in building a marketplace that unleashes an economic model for the 99% of artists.”