Photo Credit: beatBread
AI-driven funding platform beatBread signs a series of funding deals to empower independent label growth and expansion in 2024.
beatBread, an AI-based funding platform for artists and independent labels, has announced the signing of a series of funding deals to empower label growth and expansion in 2024. The company has provided over $10 million in capital to a wide range of independent labels, including Too Lost Records, Lynx, Smith Music, and Delta Records in the United States, as well as M.A.D. Solutions, which serves Nigerian and West African artists, and Peral Group, which works with artists in the UK.
The funding will enable independent labels to cover overhead while financing promotion in emerging artists and compete more fully in the market without taking on debt or dealing with the potential restrictions and lengthy terms typical in many major label joint ventures.
“beatBread’s flexible and transparent funding has already helped thousands of artists and songwriters, but we’re now increasingly working with independent labels, both large and small,” says Peter Sinclair, beatBread Chief Executive Officer. “This latest set of deals is a further demonstration of the way the beatBread solution is powering the growth of independent music companies on a global basis — and we’re just getting started.”
“We’re thrilled to be able to partner with beatBread to extend the number of artists we are able to work with, and to continuously improve the services we offer to them. The independent sector is more critical than ever in today’s music ecosystem, and the agreement with beatBread will help us supercharge our important work over the coming years,” added Bugwu Aneto-Okeke, Founder of M.A.D. Solutions.
The company continues to broaden its offer to include “funding as a service” capital to enable labels and distributors to fund artists on their roster, and provide substantial direct financing for label operations and overhead.
Last year, beatBread launched sliceNote, a platform enabling fractional investing in independent musicians and labels from high net worth individuals, music insiders, independent labels and distributors. Qualified investors can join music companies and insiders and invest in fractional shares of as little as 1% of any given deal in increments from $1,000 to $1 million per investment.
