Apple Invests in Music Company
According to the reports, Apple invests in Music Company namely United Masters that will help artists who don’t have a record label to distribute music among their listeners. This is a major breakthrough for the artists and singers who were struggling for their labels. Apple’s investment is followed by Alphabet and Andreessen Horowitz. Likewise, Apple, The Cupertino Calif, a tech giant that is one of the major companies has also bought shares in United Masters. So whatever the source of investment is, United Masters and the independent artists should have a traditional record label. However, United Masters was launched way back in 2017 by music industry executive Steve Stoute.
Apple investment in United Masters:
After the investment from Apple, the shares of United Masters raised to $350 million. The company distributes its artists’ music to all the major streaming services. United Masters takes a fee rather than ownership of underlying music(s). The publication and the company think that the investment is unusual and awkward. Because Apple has its own paid music service, Apple Music, which works with major music labels. United Masters announces that a $50 million investment is made by Apple in their company.
According to an Apple executive, the company saw working with independent artists as a positive and for promoting independents artists. The investment is providing creators with more opportunities to advance and enhanced their careers. Moreover, Apple aims the artists to bring their music globally through their investment. Furthermore, Apple claims the contributions of independent artists to the music industry play a vital role in the continued growth and success.
Previously, United Masters has deals with the NBA, ESPN, TikTok, Twitch and others brands that give access to big brand deals to artists. From now, United Masters’ artists would meet their financial needs due to the investments from various tech giants. United Masters also has a distribution app through which musicians can publish or post their works to all of the major streaming services.