The European Music Managers Alliance (EMMA) has formed a new partnership with the AI-driven music funding platform, BeatBread.
The partnership will benefit more than 3,000 managers based across Europe.
Using an algorithm that uses billions of data points to forecast an artist’s earnings potential, BeatBread provides a unique funding mechanism for creative talent, enabling them to retain full ownership of their rights.
BeatBread offers advances on existing catalogue as well as new and unreleased music. Advances range from $1,000 to more than $4.5 million, and artists repay their advance as a percentage of their revenue, over a period of time that the artists themselves can set.
The partnership comes at a time when music managers are playing an increasingly important role as investors in talent development. It will kick off with an exclusive online workshop for EMMA members on funding and business building at 5pm on July 2.
Jess Partridge, executive director, EMMA, said: “We are really excited to announce this new partnership between Europe’s music management community and BeatBread. At Eurosonic 2024, EMMA published findings from a groundbreaking new study that clearly identified funding and access to finance as one of the most significant barriers facing our sector. It remains vital for Europe’s music entrepreneurs and business builders to be able to unlock new, non-traditional sources of finance in order to support the artists, songwriters and talent that they work for. By utilising beatBread’s experience and insights, this partnership marks a significant step to empowering managers and realising that goal.”
It remains vital for Europe’s music entrepreneurs and business builders to be able to unlock new, non-traditional sources of finance
Jess Partridge
Mark Terry, head of artist & industry development, BeatBread, said: “Artist managers have never had a more pivotal role in driving successful outcomes for artists who are increasingly looking to maintain control of their music, and choice in their marketing, distribution and production partners. Funding and access to finance is therefore a critical skill set for managers, whether their artists are just getting started or have been in the business for years. The new partnership with the European Music Managers Alliance will help us build growth potential for creators, as we continue to empower the independent ecosystem around the world.”
Founded in 2018, EMMA acts as an umbrella body and network for 14 national music manager organisations in Belgium, Denmark, Estonia, Finland, France, Germany, Iceland, Ireland, the Netherlands, Norway, Poland, Spain, Sweden and the UK.
Collectively, these bodies represent over 3,000 music managers in Europe and, through links to allied organisations in Australia, Canada and New Zealand, another 600 worldwide.
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