Steve Stoute has spent over thirty years as an executive in the music industry and advertising. The businessman launched his music distribution company, UnitedMasters, in 2017, which allows independent artists to distribute their music to all streaming platforms, essentially a “record label in your pocket.” Stoute has consistently voiced his passion for artist ownership and independence.
“No one should own you. No one should own your actions. No one should own your creations but you,” Stoute said in an interview with Hypebeast.
On Tuesday (October 12), UnitedMasters announced that they have teamed up with the crypto platform, Coinbase to allow their artists to be paid with cryptocurrency, and offered services on how to properly “spend, earn, trade and borrow.”
“[The goal is] to create more financial opportunities, equity and transparency to the dedicated, rising musicians utilizing our platform and to level the playing field so that they can stay independent and in control of their respective futures,” UnitedMasters said in a statement.
Steve Stout is set on his mission of continuing to give young artists the opportunity to capitalize on the accessibility of the internet.
“Working with Coinbase to give independent artists the ability to be paid in crypto is a natural next step for us, using technology to ensure that the economics of the music business favor the creators behind it,” Stoute added.
Check out Stoute’s interview with CNBC on his partnership with Coinbase.