Steve Stoute, CEO, UnitedMasters: 'That's not the record business, man – that's the lottery business!'
Steve Stoute is the founder and CEO of UnitedMasters – the US-based music distribution and services platform that in 2017 raised $70 million from backers including Google/Alphabet and 20th Century Fox.
UnitedMasters has signed brand partnership deals with the likes of the NBA and Apple Music, while helping break artists like NLE Choppa who – according to Stoute – signed an $8 million deal with Warner Records last year.
Stoute knows about the major label world: he's the ex-President of Urban Music at both Interscope and Sony Music, and rose to EVP at the former company.
On the podcast, Stoute explains why COVID-19 lockdown presents an opportunity for independent artists, why in his view modern record labels are over-spending and playing a "lottery" game with their money, and where UnitedMasters is going next.
