AI-powered music funding platform BeatBread has appointed Troy Skabelund as Chief Financial Officer.
After more than a decade in key finance roles within The Walt Disney Company’s digital and interactive division, Mr. Scaberund has held various financial leadership roles in a range of technology businesses in recent years.
At BeatBread, Skabelund oversees all financial strategies and operations including capital activities, financial reporting, financial planning and analysis, compliance and risk management.
He will report directly to John Haller, COO and co-founder of beatBread, and will be based in the company’s Utah office. Other BeatBread office locations include Los Angeles, New York, Miami and London.
Since its launch in November 2020, BeatBread says it has made advance payments to nearly 500 artists and labels across multiple genres, six continents and a wide range of career stages via its ChordCashAI technology.
Upfronts offered through beatBread range from $1,000 up to over $3 million per artist, with higher upfronts offered to artists and independent labels through the beatBread investor network, according to the platform.
BeatBread will fund new and unreleased music as well as existing catalogues. According to the company, “With pre-contracts, revenue sources for tours, publishing, sync, and merchandise remain intact.”
beatBread also provides a white label platform powered by ChordCashAI technology to independent labels and distributors. BeatBread partners with over 20 independent distributors and labels, including Symphonic Distribution, UnitedMasters and Too Lost Records.
In 2023, beatBread will launch Slicenote, a platform that enables split investments in independent musicians and labels. Qualified investors can invest in fractions of as little as 1% of certain deals, joining consortia with music companies and affiliates to give an artist or independent to his label from his $1,000 he You can invest $1 million.
“We are planning and adding significant scale to our company as we continue to expand our reach and fulfill our mission of empowering the entire artist and independent ecosystem.”
John Haller, Beatbread
John Haller said: “We are planning and adding significant scale to our company as we continue to fulfill our mission of expanding our reach and empowering the entire ecosystem of artists and independents.
“Troy has extensive management experience across many different large, fast-moving organizations and his understanding of the role of finance in growth is critical as we move forward. I am thrilled and lucky to be joining the team.”
“Over the past 20 years, at Disney and others, I have helped grow innovative businesses and bring their content to the world. I am grateful and excited for
Troy Scaberund said: “Over the past 20 years, at Disney and others, I have helped grow innovative businesses and bring their content to the world.
“Now, I am grateful and excited about the opportunity to help music artists in the same way with beatBread. It was clear what was happening in
In March 2022, beatBread launched the Artist Advocacy Council with founding members such as Mike Cullen (artist partner group) and Dave Dederer (label owner and founding member of The Presidents of the United States).world music business
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