beatBread is now offering advances for as much as $3 million to songwriters as it hopes to build on its success as an AI-driven funding platform.
Advances against publishing rights are available to all songwriters. Songwriters can customize their advance terms by adjusting the scope, term length, and revenue shares to help tailor an agreement to meet their funding needs. Publishing advances with beatBread are also available for both existing catalogs and those with unreleased songs.
beatBread’s new songwriting advance division will be led by experienced music publishing executive Spencer LeBoff, who has joined the company from BMG Music Publishing. While at BMG, Spencer signed and worked with songwriters and artists including New West, Jason Evigan, Lisa Scinta, Cash Cash, and Mazie.
“We are excited to continue to expand the choices available to artists, writers, and their partners on our platform,” adds beatBread Founder & CEO Peter Sinclair. “We believe creatives should have more access, more choice, more transparency, and more leverage than industry incumbents have traditionally offered. Creative empowerment is our north star, and with this new initiative, we are one step closer to our goal of creating a more open and creator friendly music industry.”
“We’ve seen significant success building partnerships on the artist side since we launched in 2020, and it’s already clear that there is real demand from songwriters for our offering. Spencer is an outstanding leader, and we’re excited about where this business will go.”
“We are providing a unique opportunity for songwriters to maximize the value of their copyrights while retaining ownership over their work,” adds LeBoff. “The team at beatBread have done such a great job of paving this path on the sound recording side and I’m so excited to extend it into publishing.”
beatBread offers advances ranging from as little as $1,000 to more than $3 million to artists and songwriters. Even larger advances are offered to artists and independent labels through the beatBread investor network. beatBread advances funds on existing catalog, as well as unreleased music, providing growth capital for working creatives.
All advances are repaid from a share of an artist or songwriter’s streaming and airplay revenues, over a period of their choosing. beatBread has established partnerships with more than 30 independent distributors and labels to allow them to provide deeper financial support to their artists under their own brand.