Apple has invested $ 50 million in a music distributor that supports independent artists

Apple Inc. AAPL, + 2.76% invests in independent music artists.

The tech giant led a $ 50 million round of funding for United Masters, a three-year-old artist services company that helps musicians distribute and sell music while retaining copyright.

Launched in 2017 with the support of Silicon Valley for $ 70 million, United Masters is an alternative to the traditional major label system, where artists usually get music rights in exchange for advancement, distribution, marketing and promotion. Must be abandoned. The artist chooses to pay a $ 5 monthly subscription fee or give United Masters a 10% take and retains ownership of the music. The company has released music from over a million artists, including NLE Choppa, Lil Tecca, Lil XXEL, and recent breakouts Tobe Nwigwe and Curtis Roach, and Bored in the House was talked about on TikTok during the pandemic blockade. became.

This investment is related to how Apple, which operates the world’s second largest streaming service by subscription, has established itself as creator-friendly. This investment is also a sign of the growing number of new types of transactions that indie artists make to bring their music to the world and are well established in the industry.

An enhanced version of this article is posted on WSJ.com.

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