Photo: Dimitrios Kambouris/Getty Images
UnitedMasters' $70 Mil Play To Manage Music Data Better
Messaging mastermind Steve Stoute has reformed his successful ad agency Translation so that it now exists within a holding company, side-by-side with his newest venture — UnitedMasters. Announced Nov. 15, this artist services company thinks it can do a better job of using consumer data to help artists grow their fanbase and help brands jump into win-win sponsorships.
In a post on Medium, UnitedMasters Chief Product Officer Jack Krawczyk describes how the company is set to bridge the "music data chasm." The UnitedMasters team believes that data insights "have been hamstrung by a world where the data is being overlooked in favor of pushing people to pay for a subscription."
This is an idea Google Founder Larry Page wants to get behind, as he pushed for parent company Alphabet to come into UnitedMasters' investor group, committing a total of $70 million alongside venture capital giant Andreesen Horowitz and 21st Century Fox.
Stoute is confident his insider perspective on music artists, fans and businesses can deliver better data insights for artists that are more actionable than competing services. Success could also give artists a stronger hand on their revenues, their marketing and how storytelling can combine these for a win-win.