New service allows music companies, distributors and high net worth individuals to bid on catalog and new music projects on the beatBread platform
LOS ANGELES, CA, USA, Oct. 20, 2022 /EINPresswire.com/ — beatBread (www.beatBread.com), the funding platform for independent musicians and labels, has announced an exclusive network of investors adding funding from music companies and professionals, distributors and high net worth individuals to its existing institutional capital pool.
The new feature will allow artists who have received a qualifying offer from beatBread to highlight tour dates, collaborators, marketing partners and other initiatives to a range of pre-approved investors. Investors within the network can use this information to bid on advances on some or all of the royalties associated with an artist contract, giving artists the opportunity to receive better economic terms than those offered by beatBread’s automated process alone. .
Artists who qualify for the invite-only investor network can set their minimum terms, and if no combination of funding offers within the network meet the artist’s threshold, they will be able to accept their original offer of beatBread or go away altogether.
“Simply put, beatBread is on a mission to empower artists, first by expanding access to capital while maintaining control, ownership and transparency, and now with this new feature, leverage to get the best possible conditions,” said Peter Sinclair, CEO of beatBread. “We use algorithms to make investment decisions, but we know that some investors may prefer to use experience, taste and other subjective factors. Both approaches have their place. If our own capital is moved by higher offers from network investors, then we have succeeded in our mission to empower artists, who deserve to have the best options to fund their careers.”
beatBread’s investor network does not accept investment from fans, thereby avoiding the significant illiquidity and brand risks created by fan-based crowdfunding. The investors admitted to the network all have an interest and a demonstrated financial capacity to finance several artists on a large scale. These investors provide additional funds each month to the millions already invested in artists from beatBread’s institutional capital.
Since launching in November 2020, beatBread has leveraged its groundbreaking chordCashAI™ technology to make cash advances to nearly 500 artists and labels across multiple genres, six continents, and a wide range of career stages.
Advances offered by leveraging beatBread’s algorithmic approach range from as low as $1,000 to $2 million per artist, with options for artists to receive large advances on new and unreleased music. Advances within the network can go even further. In either case, advances are repaid from a share of an artist’s broadcast and broadcast revenue, over a period chosen by the artist, giving artists full choice and control of their distribution partners. , marketing and production and ownership of their music.
For more details, contact:
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beatBread is a pioneering music and finance company that empowers artists to take control of their careers without ceding ownership of their music or their decision-making power. Founded in 2020, beatBread brings together a team with deep experience in music, finance, artificial intelligence and machine learning to create new opportunities for artists and their managers. beatBread provides independent and unsigned artists with financial advances that are repaid from a limited share of streaming and broadcast revenue, over a period of the artist’s choosing. The company is headquartered in Utah with offices in Los Angeles, Miami and New York. For more details, visit www.beatbread.com.
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