BeatBread - Why BeatBread Is The Future of Funding for Independent Artists?
WHAT IS BEATBREAD?
BeatBread is a funding platform created to give more musicians more access to funding, more choice of their distribution, marketing and production partners and a realistic chance to fund their careers without giving up ownership of their music or control of their careers. Imagine funding your music career without giving up control. That's funding with beatBread. A world in which more artists have more choice and more.
Beatbread offers lending capabilities to help musicians finance their music careers and grow their businesses. This may include loans for equipment, production costs, tour expenses, and more. The exact details of their lending program and terms may vary, but the goal is to provide financial support to help musicians reach their goals and grow their careers. By offering lending options, Beatbread helps musicians access the resources they need to succeed and overcome financial obstacles.
HOW DOES BEATBREAD WORK?
- Provide them with your Spotify artist name
- They gather your streaming and social data in minutes
- You choose contract terms that are right for you
- Beatbread then synch with your distributor to confirm your data
- You review and sign beat breads standardized eContract
- They wire your advance to your bank account
So in a nutshell. They basically calculate how much streams you get, and give you 8x the amount. e.g if your getting £200 per month from streams they’ll give you £1600. if earning 10,000 from streams they’ll give you 80 thousand. BeatBread pay themselves back by taking a percentage of your streams until the advance is fully paid back.
Very similar to label deal EXCEPT labels own your masters in most cases which means AFTER you’ve paid back their advance, they CONTINUE to get paid from the record. Thats the part that sucks, that’s the part that makes everyone vomit. Make sense?
ok so in order to be eligible you must:
- have released music on major DSPs (Spotify, Apple Music, YouTube, Amazon, QQ)
- Have between 10,000 and 4,000,000 monthly listeners.
PROS - Lets start with the good, its great if you need funding for your next video or paid advertising to promote your next single or want to get a feature for you next track and use it as a fee to pay for the artists. Thats the beautiful thing about BeatBread. They don’t care what you spend it on and beat bread don’t want to have a say or control in your career. They give you the freedom to do what you want.
CONS - The bad news is that most upcoming artists wont be getting 10,000 to 4,000,000 monthly listeners. This is a pretty large number for unsigned artists which means those who actually need the advance can’t get it and those we are eligible for the advance probably won’t need it. Because lets face it, if your getting getting 10,000 to 4 million monthly streams, its likely you have a core loyal fanbase and earning profits from them.
Need more access to funding without giving up ownership of your music or control of your career? Head over BeatBread.com to apply today.