BeatBread
 | The topic of this article may not meet Wikitia's general notability guideline. |
| Industry | Music Industry |
|---|---|
| Founded | 2020 |
| Founder |
|
| Headquarters | United States |
| Services | Music funding |
| Website | https://www.beatbread.com |
BeatBread is a music funding platform that offers financial advances to independent musicians, labels, and distributors.[1]
The platform utilizes an algorithm to forecast an artist's future streaming income from both existing and unreleased music.[2] beatBread's algorithm calculates the funding it can offer, based upon an undisclosed range of data, and tailored to the artist’s customized deal terms.[3] Notably, artists retain ownership of their recordings, publishing rights, income from live performances, merchandise, and synchronization rights.[4]
The business is headquartered in Utah with offices in London, Los Angeles, Miami and New York.
History
beatBread was founded in November 2020 by Peter Sinclair and John Haller.
In February 2022, beatBread secured $34 million in seed funding, with Deciens Capital, a Fintech venture capital firm, leading the investment.[5] Later that year, the company secured a $100 million institutional funding agreement with Variant Investments.[6]
That summer, singer-songwriter Elley Duhé and independent label, Not Fit For Society, struck a "seven-figure" funding agreement with beatBread.[4] The agreement followed the artist's viral success of her single “Middle of the Night” on TikTok and climb into the Top 10 on Spotify’s Global Top 50.[7]
In 2023, the company expanded with the addition of sliceNote and its Investor Network, which offers fractional investing in independent musicians and labels.[8]
Partnerships
The company has several white label partnerships with distributors and artist services companies including DistroKid, Ingrooves, The Orchard, United Masters[1], Symphonic, Horus Music and Too Lost.[9]
In 2022, beatBread established the Artist Advocacy Council, an advisory body comprising notable figures like Mike Caren (Artist Partner Group), Dave Dederer (founding member of The Presidents of the United States of America), Gabe Saporta (Cobra Starship and T∆G // The Artist Group), Diana Rodriguez (Criteria Entertainment), Kei Henderson (Third & Hayden), Ray Daniels (Raydar, LLC), and Nick Jarjour (Hipgnosis).[10] Notable consultant for hip-hop artists,[11] Wendy Day (Rap Coalition) was added the following year.
References
- ↑ 1.0 1.1 Robinson, Kristin (October 25, 2021). "A New Crop Of Funders Are Helping Indie Artists Take Off On Their Own Terms". Billboard. Retrieved November 30, 2022.
- ↑ Smirke, Richard (2023-02-27). "After Spending Spree, Utopia Refocuses on Fixing Music Royalties". Billboard. Retrieved 2023-10-12.
- ↑ Bowden, Ashley (June 9, 2022). "Funding Platform beatBread Empowers Artists to Build Their Careers". Built in LA. Retrieved December 2, 2022.
- ↑ 4.0 4.1 Eggertsen, Chris (2022-06-09). "The Deals: Aespa Partners With Warner Records; Elley Duhe Nabs 'Seven-Figure' Advance". Billboard. Retrieved 2023-10-12.
- ↑ Gilchrist, Todd (2022-02-14). "Beatbread Raises $34 Million in Seed Round Funding". Los Angeles Business Journal. Retrieved 2022-12-02.
- ↑ Smith, Dylan (2022-11-23). "beatBread Unveils '$100 Million Institutional Funding Agreement'". Digital Music News. Retrieved 2022-12-02.
- ↑ Wass, Mike (2022-07-14). "Viral Revivals: From Kate Bush to Tom Odell, Inside the Business of Oldies as New Hit Songs". Variety. Retrieved 2023-10-12.
- ↑ Dredge, Stuart (April 12, 2023). "beatBread's sliceNote offers fractional investment in musicians". Music Ally. Retrieved October 12, 2023.
- ↑ "After raising $34m, beatBread closes 'seven figure artist financing deal' with singer-songwriter Elley Duhe". Music Business Worldwide. 2022-06-08. Retrieved 2023-10-12.
- ↑ "After raising $34m, music funding platform beatBread names Advocacy Council including Mike Caren and more". Music Business Worldwide. 2022-03-29. Retrieved 2022-12-02.
- ↑ Robinson, Cheryl. "How Wendy Day Broke Barriers And Launched Careers Of World Renowned Rappers, Hip-Hop Artists". Forbes. Retrieved 2023-10-12.
External links
This article "BeatBread" is from Wikipedia. The list of its authors can be seen in its historical. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace.