Steve Stoute Launches New Venture, UnitedMasters
The former president of Interscope Records & owner of ad agency Translation, Steve Stoute received $70 million in funding from investors including Google parent Alphabet Inc., Andreessen Horowitz and 21st Century Fox to launch his new venture, UnitedMasters.
United Masters is an artist services company that champions independence for all musicians. Using proprietary data and technology, coupled with a deep expertise in music and marketing, UnitedMasters helps artists get smart, get fans, and get paid.
Steve Stoute, who helped develop the careers of Nas, Will Smith, and Mary J. Blige describes it as “the lowest price for distribution” to get their songs to stream on music sites, and the company, in turn, pays the streaming companies. UnitedMasters will, in some cases, get a small percentage of the money the artists make when their songs are streamed. In return, the artist will be able to use UnitedMasters’ system to glean insights into who their fans are.
“Brands are spending hundreds of millions of dollars trying to get to young people by using music as the vehicle,”. “Being able to use music data and making it actionable so they can target and speak to these fans, that’s super important.” Stoute told the Wall Street Journal
For more information or to join UnitedMasters, visit here.