Variety Staff Follow Us on TwitterStem, the distribution and payments platform for independent musicians and labels, has secured $10 million in new financing and brought in several new investors, senior advisors and Board Members that include prominent music executives.Those execs include Kevin “Coach K” Lee, co-founder and COO of Quality Control Music (Lil Baby, Migos, Lil Yachty), Calvin Harris manager Mark Gillespie and several Red Light Management execs along with NBA star Baron Davis.The company also noted that this month it passed $100 million in royalties paid out to independent artists since 2015.“Stem was created to provide independent artists with the ability to manage and grow their careers and teams autonomously,” said Milana.
Read more on variety.com