Alphabet/Google leads $70m investment in music startup aiming to challenge major labels
Many people predicted this day would come.
Today Alphabet, the parent of Google, was revealed as a heavy-hitting investor in a new US-based music startup which is not-so-subtly gunning for traditional record companies.
United Masters has raised some $70m in an investment round that includes Alphabet, VC firm Andreessen Horowitz, and movie giant 20th Century Fox.
The startup has been founded by the one-time President of Urban Music at Interscope Records, Steve Stoute. He more recently built an advertising agency specializing in music brand partnerships, Translation – which has worked with the likes of McDonald’s as well as artists including 50 Cent, Justin Timberlake, and Jay-Z.
In a nutshell, United Masters is a digital music distribution and insights company which handpicks independent artists from its community to push to the next level – offering them financial and marketing support.
