The deal will allow artists on TikTok to tap into the platform’s ability to make their music go viral, then distribute their songs directly to other music streaming services, like Spotify, Apple Music/iTunes, SoundCloud and YouTube. remains uncertain, the company announced this morning its first music distribution partnership, with indie music distributor UnitedMasters. Unitedmasters wants to grab a bigger share of this market.Though TikTok’s future in the U.S. It is important to note that according to the IFPI, the combined revenue of independent music labels was $6.5 billion in 2020 and $7.0 billion for 2021. Artists give Unitedmasters 10% of their revenue in exchange for distribution support, and unlike a record label, Unitedmasters does not own the artist, they get to keep them. “We are growing rapidly and these new additions to our leadership team will help us continue to grow and democratize the music industry,” said Steve Stout, Unitedmasters founder and CEO.īy providing a massive technological edge, Unitedmasters is allowing artists to build their fan base on a community level. Is using its capital injection to “raise”. CultureBanks explained that UnitedMasters continues its core mission of empowering artists and creators to maintain complete creative ownership over their careers while providing economic opportunity and access to millions of new fans worldwide through streaming, music licensing and brand partnerships.
In October 2021, the company raised a $50 million Series C round led by venture firm Andreessen Horowitz at a valuation of $550 million. Unitedmasters said it has more than doubled its workforce in the past two years, thanks to a major fundraising last year.
These new hires can go a long way in uncovering new opportunities for revenue growth in the music industry by leveraging analytics to monetize fans overall.
, The company continues to differentiate its music artist first platform, which has 1.3 million independent users, from many of its competitors in the DIY distribution domain. Steve “The Commissioner” Stout’s music startup UnitedMasters, the music distribution and data analytics company, has successfully recruited top executives from Uber.
NEW YORK, NEW YORK – MAY 05: Steve Stout participates in the SelectCon 004 panel discussion with Issa Rae, On in New York City at 74Wythe.
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