The records labels are obsolete. They haven’t kept up as music evolved from selling CDs to streaming songs to promote concert tickets and merchandise. Labels were meant to help artists generate albums, fame, and money. But now anyone can record themselves and no will “buy” it. So today that requires being a technology company, combining analytics with hyper-targeted advertising. And the old labels don’t have the engineering talent for it.
That’s why last year, the former president of Interscope Records Steve Stoute secretly raised $70 million from Google parent company Alphabet, prestigious venture firm Andreessen Horowitz, and entertainment giant 20th Century Fox.
Today, his startup United Masters emerges from stealth.
United Masters is ready to give musicians an…