beatBread-funded artists and indie labels hit 10 billion streams in 2023 alone

Synthetic intelligence-driven music funding platform beatBread has reached a big milestone with 10 billion streams for beatBread-funded artists and impartial labels in 2023 to date. 

BeatBread, which is celebrating its third anniversary since its launch in late 2020, says it has offered over 1,000 advances to artists and impartial labels throughout six continents, starting from USD $1,000 to over $4.5 million. 

The Utah-headquartered agency presents advances on present catalogs and new and unreleased music, providing progress capital for working artists and songwriters. Compensation happens from a share of an artist’s streaming and airplay revenues, over a interval decided by the artist. 

Advance agreements don’t impression touring, sync, or merchandise income streams, and so they present the flexibleness for artists to decide on advertising and distribution companions independently.

Final month, the corporate expanded its providers to incorporate publishing advances of as much as $3 million for songwriters.

Along with its direct choices, beatBread extends its attain by means of a white-label platform powered by chordCashAI know-how. Collaborating with over 20 impartial distributors and labels, together with Symphonic Distribution, UnitedMasters and Too Misplaced Data, beatBread allows these entities to supply monetary assist to artists underneath their very own model and inside their digital experiences.

The corporate not too long ago made updates to chordCashAI 2.0, its AI-driven funding engine, in a bid to make artist financing “clear, accessible, and simple.” With the replace, the corporate claims that greater than 90% of artists who go to beatBread.com are actually capable of obtain advance estimates from lots of of individualized funding constructions in underneath seven seconds.

Updates to chordCashAI 2.0 additionally embrace enhancements to beatBread’s white-label “funding-as-a-service” product. Designed to empower impartial distributors and artist service firms, this product now permits them to seamlessly combine the chordCashAI engine inside every artist’s distribution account. Advance presents can now seem alongside weekly stream counts, earnings, and different components inside an artist or label’s distribution dashboard.

“beatBread is a robust different for artists in search of extra versatile and clear funding than a serious label deal, in addition to for impartial labels and distributors.”

Peter Sinclair, BeatBread

“BeatBread is a robust different for artists in search of extra versatile and clear funding than a serious label deal, in addition to for impartial labels and distributors. Whether or not they’re in search of ‘funding as a service’ to offer capital to their very own artists, or they’re in search of direct financing for his or her operations, beatBread now has an answer to energy the expansion of impartial music firms,” stated beatBread Chief Govt Officer Peter Sinclair.

“Our mission is to hurry up the music business’s transition to creator independence. We’re joyful to have fun this three-year milestone, however we’re nonetheless simply scratching the floor.”  

Final 12 months, the corporate launched an “unique investor community”  that provides funding from music firms and professionals, distributors and “excessive web price” people to its present pool of institutional capital.

Subsequently, earlier this 12 months, beatBread introduced sliceNote, a platform facilitating fractional investing in impartial musicians and labels. Excessive web price people, music insiders, and impartial labels and distributors can now be part of certified traders in investing in fractional shares as small as 1% of any given deal, starting from $1,000 to $1 million per funding.

Music Enterprise Worldwide