Apple is investing in a company that focuses on giving musicians full control of their music
The company, UnitedMasters, looks to threaten the massive record label industry.
Apple has invested in music distribution startup UnitedMasters as part of a $50 million fundraising effort. UnitedMasters is aiming to threaten major label companies by offering a platform where independent artists can distribute their music while retaining full control.
UnitedMasters was founded four years ago by former record-label executive Steve Stoute. Like many companies before, UnitedMasters is looking to appeal to independent artists, whose growing frustration with how record labels treat artists has led them towards the path of independence. It is no secret that artists have had frustrations with record labels in the past, and UnitedMasters is looking to capitalize on that.
Apple is looking to continue its creator-friendly approach on its various platforms, and this move definitely looks like it confirms that. According to Bloomberg, Apple services executive Eddy Cue is quoted in a statement regarding the investment saying:
“Steve Stoute and UnitedMasters provide creators with more opportunities to advance their careers and bring their music to the world. The contributions of independent artists play a significant role in driving the continued growth and success of the music industry.”
Though it is obvious that record labels are generally considered an enemy in the music industry, they have managed to maintain a foothold due to resources and connections. However, UnitedMasters now has backing from Apple, who is in control of one of the largest music streaming services available, Apple Music. That fact alone will help make this route more appealing to a growing list of independent artists.
This is a great opportunity for independent artists to be able to distribute their music to wide audiences without giving up rights to their product. The record label companies have been in power for a long time, and it’s about time someone came along to shake things up a bit.
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