Steve Stoute, entrepreneur, philanthropist, and President and Founder of music tech company UnitedMasters, discusses the new platform and how it seeks to disrupt the record label business.
Stoute digs into how the company works, noting that the ultimate goal is to allow artists to keep rights to their music, while still being able to reach fans in intimate ways through today's digital landscape. With UnitedMasters, artists will pay the company to distribute their music across platforms like Spotify, Youtube, and SoundCloud. The company splits royalties with the artist, while the artist retains the rights to the master recordings.
Stoute also discusses the state of the media industry today as women continue to speak out against sexual assault and harassment. Stoute talks the importance of this change in culture around women and people of color and why minorities have been, and will continue to be, important to business.
UnitedMasters recently raised $70 million in funding, led by Google, 20th Century Fox, and venture capital firm Andreessen Horowitz.