UnitedMasters raises $50 million in a rare investment from Apple

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UnitedMasters raises $50 million in a rare investment from Apple
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Apple's $50 million investment in this music platform is the first time it has led a startup funding round since it backed Didi in 2017

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Stoute, who is founder and CEO of UnitedMasters, said there was no formal courtship. He's known Eddy Cue, Apple's head of services, for years, and he worked on aUnitedMasters bills itself as the record label in your pocket. It signs independent artists and helps them release their music on streaming services, like Spotify and Apple Music, find sponsors, and grow their fan bases, all from an app.

"We've always been about trying to help artists and the best way to empower them is to make it easy for them to create and get their music out there," Eddy Cue, Apple's head of services,."We want artists to be focused on creating the best music on the planet. That's their art and skill and it's hard to have to be the marketing person and the finance person and the salesperson and do all these things when you're starting out.

"You want to be the company that makes the independent artist feel that they are not second class because they are independent," he said."That they have the same opportunities and the same options as artists that are signed."

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