UNITED MASTERS RAISES $50M FROM APPLE, ALPHABET

Apple is leading a $50m Series B investment in Steve Stoute’s independent music distribution platform UnitedMasters. Google parent Alphabet is also participating in the investment.

The money, UnitedMasters says, “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.”

“Steve Stoute and UnitedMasters provide creators with more opportunities to advance their careers and bring their music to the world,” Apple’s Eddy Cue said. “The contributions of independent artists play a significant role in driving the continued growth and success of the music industry, and UnitedMasters, like Apple, is committed to empowering creators.”

Launched in 2017, the company has released music from more than 1m artists, among them NLE Choppa, Lil Tecca, Tobe Nwigwe and Curtis Roach.