Distribution & Label Startup Amuse Unveils Feature to Pay Artists for Future Royalties
The new function uses machine learning to predict earnings up to six months ahead.
Next generation record label and digital distributor Amuse announced plans this week to start paying artists royalties up to six months in advance using a new data-driven service called Fast Forward.
"Labels have historically used advances to sign artists to long-term deals. We are now using advances to help artists remain independent," said Andreas Ahlenius, co-founder and label director, in a statement. "Leveraging our data driven approach, Fast Forward allows for quicker payments for artists that want to stay in control. It’s an opportunity for us to extend our label’s huge benefits to unsigned artists and independent managements as well."
The artists' future royalities are predicted via machine learning. The process utilizes the music consumption data generated through Amuse's distribution service to automatically analayze over 27 billion data points. Fast Forward will be a part of the Amuse app, so artists can view and withdraw their future royalties anytime. Amuse intendes this new feature to allow independent artists to continue to grow their careers and maintain the rights to their music, providing acts with more financial flexibility when they need it.
“With Fast Forward, Amuse is creating a completely new way for independent artists to fund their music. We’ve built an artist-friendly solution that combines our human knowledge and expertise with billions of data points, resulting in a truly innovative service for the modern day artist,” added Diego Farias, co-founder and CEO. “We believe many independent artists can benefit from Fast Forward and evolve their careers faster if it’s possible to put their royalties into use when they need it.”
Fast Forward is first rolling out in beta to a select group of independent artists and will launch globally in the coming months
Over the past year, the Swedish company has grown its global reach into the U.S. and Latin America following a Series A funding round. It now has offices in Los Angeles and Bogotá with additional teams in London and Miami, servicing tens of thousands of distribution users. The complimenting so-called "mobile record label" currently works with a selection of licensed acts across Scandinavia, the U.S., U.K. and Europe, discovering new talent through analytics offered via its free distribution service.