The music funding platform beatBread has launched a new Artists Advocacy Council.
Founding members include Mike Caren (Artist Partner Group), Dave Dederer (label owner and founding member of The Presidents of the United States of America).
Advocacy Council launch follows beatBread’s $34 million launch seeds round in February, led by fintech-focused venture capital firm Deciens Capital.
Deciens Capital was backed by existing and new investors including Afore Capital, Angel Ventures, IAG Capital Partners, Mucker Capital, Pandeavor Ventures, Jason Guss, CEO of Octane Lending, Pier Capital and Westrie Capital.
Since launching in November 2020, beatBread claims to have made hundreds of advancements for artists and labels across genres, six continents and a variety of career stages.
Advances offered through beatBread range from $1,000 to $2 million per artist for a limited share of existing catalog earnings, with options also available for unreleased music.
UnitedMasters partner partnered with the Utah-based firm last August to offer qualifying artists anywhere from $1,000 to $1 million in advances.
Names like Symphonic Distribution, Horus music and Indie Amplify have also completed all recently signed agreements with the company.
BeatBread says its ChordCash tech engine mines artists’ streaming and social data to generate upfront offers, which — combined with a “streamlined” verification and documentation process — result in upfront funding being available within days artists’ bank accounts.
All advances are paid back from a percentage of an artist’s streaming and airplay revenue over a period of the artist’s choice.
According to BeatBread, its Artists Advocacy Council will meet regularly to provide feedback on new features planned for the beatBread platform.
They will also provide critical advice to co-founders Peter Sinclair and John Haller as the company expands.
“We are honored that some of the leading artists’ advocates in practice today have committed themselves to helping beat bread team to give more artists better access to capital and greater influence in the new music industry,”
peter sinclair, beat bread
“We are honored that some of the leading artists’ advocates in practice today have committed themselves to helping beat bread Team will offer more artists better access to capital and greater influence in the new music industry,” he said beat bread Managing Director Peter Sinclair. “beat breadThe core task of is to empower artists.
Sinclair added, “Adding the experience, insight and advice of this amazing group will help us continue to develop industry-leading financing products that put control and power where it belongs, in the hands of artists and creators.”music business worldwide
https://www.musicbusinessworldwide.com/after-raising-34m-music-funding-platform-beatbread-names-advocacy-council-including-mike-caren-and-more/ After raising $34 million, music financing platform beatBread appoints Advocacy Council featuring Mike Caren and others