beatBread-funded songs cross 10 billion annual streams as company marks its third anniversary

 

beatBread, the AI-driven funding platform that enables artists and independent labels to access growth capital while maintaining ownership and control, has now funded tracks that have been streamed over 10 billion times during 2023. The achievement comes as the company celebrates the third anniversary of its launch. 

 

beatBread has made more than 1000 advances to artists and independent labels on six continents since its launch in late 2020, with funding amounts ranging from as little as $1000 to over $4.5 million. The company recently added the ability for songwriters to access publishing advances as part of its continued commitment to empowering creatives around the world.   

 

The company continues to invest in technology to make artist financing transparent, accessible and straightforward. With recent updates to chordCashAI™ 2.0, beatBread's AI-driven funding engine, more than 90% of artists who visit beatBread.com will be able to get advance estimates with hundreds of individualized funding structures, in under seven seconds.  

 

The updates to chordCashAI™ 2.0 include upgrades of beatBread's white label "funding-as-a-service" product, designed to empower independent distributors and artist service companies who want to offer automated advances under their own brand, within their own digital platforms. New features now enable independent distributors to directly embed the chordCashAI™ engine within each artist's own distribution account, so that advance offers appear next to weekly stream counts, earnings and other elements of an artist or labels own distribution dashboard.  

 

beatBread Chief Executive Officer Peter Sinclair commented, "beatBread is a powerful alternative for artists seeking more flexible and transparent funding than a major label deal, as well as for independent labels and distributors. Whether they're looking for "funding as a service" to provide capital to their own artists, or they're seeking direct financing for their operations, beatBread now has a solution to power the growth of independent music companies. Our mission is to speed up the music industry's transition to creator independence. We're happy to celebrate this three-year milestone, but we're still just scratching the surface."  

 

beatBread advances funds on existing catalog, as well as new and unreleased music, providing growth capital for working artists and songwriters. All advances are repaid from a share of an artist's streaming and airplay revenues, over a period of the artist's choosing. Advance agreements leave touring, synch, and merchandise revenue streams untouched; do not place restrictions around how funds are used; and leave the choice of marketing and distribution partners in the artist's own hands. 

 

beatBread also offers a white label platform to independent labels and distributors powered by its chordCashAI™ technology. beatBread has partnered with more than 20 independent distributors and labels, including Symphonic Distribution, UnitedMasters and Too Lost Records, allowing independent labels, distributors and artist service companies to provide deeper financial support to their artists, under their own brand and inside their own digital experiences.

 

In 2023, beatBread launched sliceNote, a platform that enable 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 $1000 to $1 million per investment. 

 

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