beatBread Signs Several Music Companies To Use Its Artist Advance Funding Platform

New Deals

Several music companies will use music financial technology company BEATBREAD's chordCashAI platform allowing artists to obtain advances funded by BEATBREAD itself or the partners, if they so choose, under newly-announced partnerships. The deals are with UNITEDMASTERS, SYMPHONIC DISTRIBUTION, HORUS MUSIC, INDIE AMPLIFY, SYNCVAULT, SOUNDPLATE and TOO LOST.  Available advances range from $1,000 to $1 million for a limited share of catalog revenues, repaid from streaming and sales revenues, and do not encumber touring, publishing, synch, and merchandising revenue.

CEO PETER SINCLAIR said his platform "allows independent labels and artist service companies to provide deeper financial support to their artists and further democratize the music industry.  Everything we do is designed to be turnkey for our partners.  We made a deliberate decision to focus on financial technology rather than artist services or distribution, because there are so many companies that provide great services to artists already.  Our bet is that if we can empower the companies that serve independent artists, more artists will be able to choose the services that are the best fit for their needs.  As a result, the world will get better music and more of it.”

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