What you need to know
- Apple has led a $50 million investment in UnitedMasters, an independent music distribution platform.
- UnitedMasters focuses on giving all artists the same opportunity when it comes to sharing music.
A new report says that Apple has led a $50 million investment in independent music sharing platform UnitedMasters.
As reported by TechCrunch:
Launched by Steve Stoute in 2017, UnitedMasters' focus "is to provide artists with a direct pipeline to data around the way that fans are interacting with their content and community, allowing them to connect more directly to offer tickets, merchandise and other commercial efforts."
As the report notes, Apple's investment is somewhat unique, as it normally limits investment in companies to its Advanced Manufacturing Fund, spurring on the production of hardware components like glass for its iPhones.
In an interview, Steve Stoute said UnitedMasters wants "want all artists to have the same opportunity", which he says isn't currently the case in the music industry. The company reportedly already has deals with the NBA, ESPN, TikTok, and Twitch. In a statement, Apple SVP of Internet Software and Services Eddy Cue stated:
You can read the full report here.
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9
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