UnitedMasters says that the investment will fuel its “mission to enable artists to maintain full ownership over their work while expanding their economic opportunity and introducing them to millions of new fans”.
The move also marks another step from Apple into the independent artist space, following its acquisition of prominent artist services, A&R and distribution company Platoon in 2018.
According to UnitedMasters, Apple’s investment kicks off a strategic partnership with the tech giant that will “create dramatic new opportunities for UnitedMasters artists”.
Announcing the investment round, UnitedMasters founder and CEO, Steve Stoute, said: “The power in the music industry has shifted back into the hands of the artist.
“We are taking that power and using it to place the industry’s intellectual property back into the hands of its rightful owners.”
“The power in the music industry has shifted back into the hands of the artist. We are taking that power and using it to place the industry’s intellectual property back into the hands of its rightful owners.”
Steve Stoute, UnitedMasters
Added Stoute: “We built UnitedMasters as a record company in your pocket to remove the barrier entries for any independent artist who wants to create and retain full equity in their work, connect directly with their fans, and earn far more money than the legacy model through new revenue streams such as advertising.
“Technology, no doubt, has transformed music for consumers. Now it’s time for technology to change the economics for the artists.”
“Steve Stoute and UnitedMasters provide creators with more opportunities to advance their careers and bring their music to the world.”
Eddy Cue, Apple
Apple’s Eddy Cue said: “Steve Stoute and UnitedMasters provide creators with more opportunities to advance their careers and bring their music to the world.
“The contributions of independent artists play a significant role in driving the continued growth and success of the music industry, and UnitedMasters, like Apple, is committed to empowering creators.”
“We are excited to work with Steve and team to build a better, bigger, and far more profitable world for musical artists.”
Ben Horowitz, Andreessen Horowitz
Ben Horowitz, Co-Founder and General Partner of Andreessen Horowitz, added: “UnitedMasters has completely transformed the way artists create, retain ownership in their work, and connect with their fans.
“We are excited to work with Steve and team to build a better, bigger, and far more profitable world for musical artists.”
Launched in 2017 by Steve Stoute, UnitedMasters provides music distribution services plus analytics and royalties tools. It has facilitated partnerships between indie artists and brands such as the NBA, ESPN, TikTok, Twitch, and more.
UnitedMasters says that it currently has 1 million “artist partners” on its platform, and has worked with the likes of NLE Choppa, Lil Tecca, Tobe Nwigwe, Lil XXEL, and many others.
UnitedMasters launched a new subscription tier in July last year, Select, that allows acts to keep 100% of their royalties from digital services.
In August 2020, TikTok inked a deal with UnitedMasters for a full integration between both services directly through the TikTok app.Music Business Worldwide
