FAC & beatBread partner to shape future of artist ownership
Today, we are delighted to welcome beatBread as our latest partner, introducing the funding platform to the UK’s artist community. The partnership represents a natural move given both organisation’s shared goal to provide artists with greater choice and ownership within the music industry.
beatBread is a music funding platform that empowers artists to take control of their careers without giving away ownership of their music or their decision-making power. Founded in 2020, beatBread’s team of music, finance and machine learning experts have made over 300 artist advances, in increments of $1,000 to $2M, all with the purpose of enabling more choice, control and opportunities for artists and their teams. beatBread customisable advances are repaid through a limited share of revenues from streaming and airplay, over a period of the artist’s choosing.
Through a series of workshops, roundtables and in person events, artists will be able to learn more about access to funding and the benefits of retaining control of their businesses. Artists who would like to join one of the upcoming, private roundtables can contact info@thefac.org for more information.
David Martin, CEO, FAC said: “Providing artists with the knowledge, advice and tools to develop their careers is a fundamental tenet for the FAC. beatBread’s platform empowers artists by providing funding, allowing greater freedom in decision-making. The service is a game changer for artists, providing the capability to retain full ownership of music rights whilst providing the capital to fund future projects and progress within the industry.”
Peter Sinclair, CEO, beatBread said: “Our mission is to give more artists more choice, more control and more power in the new music industry, The FAC has been a tireless advocate for the rights and interests of the global artist community, and we are very honoured to support the FAC’s mission.
About beatBread: beatBread is a music funding platform that empowers artists to take control of their careers without giving away ownership of their music or their decision-making power. Founded in 2020, beatBread brings together a team with deep experience in music, finance, artificial intelligence, and machine learning to create new opportunities for artists and their managers. Using its chordCashAI technology, beatBread has provided hundreds of independent and unsigned artists with financial advances that are repaid through a limited share of revenues from streaming and airplay, over a period of the artist’s choosing. In addition to its “direct-to-artist" funding, beatBread also offers its chordCashAI technology and full Capital-as-a-Service to leading independent labels and distributors such as UnitedMasters, Symphonic, and TooLost Records. The business is headquartered in Utah with offices in Los Angeles, Miami, and New York. For more details, visit www.beatbread.com.
About the FAC: The FAC is the UK trade body representing the specific rights and interests of music artists. We are a not-for-profit organisation, serving a diverse, global membership of creators at all stages of their careers. The FAC is formed by artists, for artists, and we place this ethos at the centre of all we do. We are an inclusive community that advocates, educates, collaborates and researches on behalf of artists, coming together to provide a strong, collective voice within the industry and to governments domestically and abroad.
Having been formed in 2009 by pioneering artists including Billy Bragg and Pink Floyd's Nick Mason. The FAC's Board of Directors represents some of the most recognised names in the music world with the likes of Everything Everything's Jeremy Pritchard, Imogen Heap, Katie Melua, Wolf Alice’s Joff Oddie, Howard Jones, Aluna Francis (AlunaGeorge) and Blur's David Rowntree as the organisation's Artist in Residence.