beatBread further expands European business with appointment of Mark Terry

06 December 2022 - Press release

Artist funding platform appoints former label boss at Virgin, Atlantic & Columbia Records to spearhead continued international growth

 

beatBread (www.beatBread.com), the music funding platform that enables artists to access growth capital while maintaining control of their careers and ownership of their music, has appointed senior music industry executive Mark Terry as Head of Europe.

In this newly-created role, Terry will lead beatBread’s ongoing expansion in the UK and Continental Europe, with a focus on developing deeper relationships with artists, managers, distributors and independent labels that want to fund their growth without losing ownership of their music or the creative decision making behind it. He'll be working in close collaboration with Head of Artist & Industry Development, Matthew Tilley. Last month, beatBread announced that it had finalized a $100 million institutional funding agreement to support multi-million dollar deals for some of the world’s biggest artists, while continuing to fund developing artists in earlier stages of their careers.

Terry has spent most of his career in growth and management roles at some of the world’s biggest record labels including serving as GM of Virgin Records UK, and Atlantic Records-UK, and as Co-President of Columbia Records-UK, where he played a key role in developing and breaking artists including Daft Punk, Ed Sheeran, Calvin Harris, Massive Attack and George Ezra.

beatBread CEO Peter Sinclair commented, “We’ve built a significant business in the UK already, and have seen growth in partnerships across the rest of Europe, but we’re just getting started. We are very excited to add such a respected and experienced leader to our team.  Mark has a depth of relationships and experience that will immediately expand beatBread’s footprint, but he will also be a key contributor in the further evolution of our product offering, enabling us to fund a wider segment of the market with an even broader set of options.  We’re excited to have him on board.” 

Mark Terry said, “beatBread’s funding approach reflects the way that artists are thinking today. Legacy major label deals fit the realities of an era that has passed, and new structures and more flexible approaches are needed.  In today’s industry, creators don’t want to, and shouldn’t have to, give up ownership and control to advance their careers. When I was introduced to the flexible and transparent funding options that beatBread provides and saw the actual amounts that the company could offer, I was intrigued.  But when I met with the team and understood their mission, I was sold.  I couldn’t be more excited to play a role in helping the company to deliver on its ambitious artist empowerment goals.”

Advances offered through beatBread range from as little as $1,000 to more than $2 million per artist, with even larger advances offered to artists and independent labels through the beatBread investor network.  beatBread advances funds on existing catalog, as well as new and unreleased music, to provide growth capital for working artists. 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, publishing, 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.