Jem Aswad Senior Music EditorUnitedMasters, a music distribution platform for independent artists founded by industry veteran Steve Stoute, announced a $50 million Series B investment led by Apple with follow-on investments from Alphabet and Andreessen Horowitz.
According to the announcement, the Series B investment “fuels the company’s mission to enable artists to maintain full ownership over their work while expanding their economic opportunity and introducing them to millions of new fans.”“The power in the music industry has shifted back into the hands of the artist,” said Stoute. “We are taking that power and using it to place the industry’s intellectual property back into the hands of its rightful owners.
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