Steve Stoute’s UnitedMasters Successfully Recruits Uber, Twitter And Adobe Execs

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Steve “The Commissioner” Stout’s music startup UnitedMasters, the music distribution and data analytics company, has successfully recruited top executives from Uber.
Uber
Twitter and Adobe
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, 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. 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 breakdown you need to know:

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Unitedmasters said it has more than doubled its workforce in the past two years, thanks to a major fundraising last year. In October 2021, the company raised a $50 million Series C round led by venture firm Andreessen Horowitz. at a valuation of $550 million, 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. Is using its capital injection to “raise”. opportunity.”

“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.

By providing a massive technological edge, Unitedmasters is allowing artists to build their fan base on a community level. 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. 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. Unitedmasters wants to grab a bigger share of this market.

situational awareness:

What makes the platform so unique is that it envisions Spotify, Tidal (now Square), and SoundCloud, by distributing music across a range of digital platforms, to create a more equitable future for artists. Then, it collects data on the artist’s audience that they can use to advertise things like concerts and merchandise sales. Basically, UnitedMasters can check stream, fan and earnings data at a glance.

Credit: www.forbes.com /

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