UnitedMasters Valuation, Funding & Investors

UnitedMasters is valued at $550M as of October 2021.

Last UnitedMasters valuation

$550M

Series C · Oct 2021

Last UnitedMasters funding round

$50M

Series C · Oct 2021

Cumulative funding UnitedMasters raised

$170M

across 3 funding rounds

Key investors in UnitedMasters

UnitedMasters Overview

About UnitedMasters

UnitedMasters is a Brooklyn-based digital music distribution platform empowering independent artists with global streaming access. It distributes tracks to Spotify, Apple Music, YouTube, TikTok, and 30+ DSPs while artists retain 100% ownership and receive 90% of royalties. Services include chart marketing, playlist pitching, brand sync licensing, and fan monetization tools like NFTs. The platform serves over 1 million artists including Chance the Rapper and Migos, with catalog exceeding 4 million songs. Launched in 2017, UnitedMasters expanded into publishing and video distribution.


Founded

2017

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2C

Revenue model

Services

Valuation

$550M (Oct 2021)

UnitedMasters Valuation

UnitedMasters is currently valued at $550M, based on its Series C in October 2021.

The $50M round was led by Andreessen Horowitz.

UnitedMasters' valuation has grown 1.6x from $350M at its Series B in March 2021 to $550M in October 2021, across 2 priced rounds.

UnitedMasters valuation by funding round

UnitedMasters valuation by funding round
DateStageValuation
Oct 2021Series C$550M
Mar 2021Series B$350M

UnitedMasters Funding History

UnitedMasters has raised a total of $170M across 3 funding rounds.

UnitedMasters' first fundraising round was a $70M Series A in November 2017. The most recent completed round was a $50M Series C in October 2021.

UnitedMasters funding rounds

UnitedMasters funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2021Series CAndreessen Horowitz (lead)$50M$550MUnitedMasters is a technology platform for independent artists founded in 2017 by Steve Stoute that provides music distribution services, analytics, royalties tools, and brand partnership opportunities. The company operates as a major-label alternative, allowing artists to maintain full ownership of their music while accessing premium distribution, direct fan engagement tools, and connections with major brands including the NBA, ESPN, TikTok, Twitch, and Dolby. In October 2021, UnitedMasters closed a $50 million Series C funding round led by Andreessen Horowitz at a post-money valuation of $550 million. This was the company's second $50 million raise in 2021, following a Series B led by Apple in March 2021 that also included Alphabet and Andreessen Horowitz. The October 2021 investment brought the total capital raised to approximately $170 million across three rounds, including Alphabet's $70 million Series A in 2017. At the time of the Series C round, UnitedMasters had grown to 1.3 million artist partners on its platform and had established key partnerships with cryptocurrency platform Coinbase for crypto payouts and with TikTok for in-app music integration. The company planned to deploy the new capital toward international expansion, particularly in Latin America, technology development for frictionless artist-brand partnerships, and strategic acquisitions to advance its mission of empowering independent creators in the creator economy.
Mar 2021Series BApple (lead); Andreessen Horowitz; Alphabet$50M$350MUnitedMasters is an independent music distribution platform and tool provider that enables artists to distribute music, retain ownership, access analytics, royalties tools, and form partnerships with brands like NBA, ESPN, TikTok, and Twitch. Founded in 2017 by Steve Stoute, the company previously raised $70 million led by Alphabet in 2017. On March 31, 2021, UnitedMasters announced a $50 million Series B round led by Apple, with participation from existing investors Alphabet and Andreessen Horowitz. The investment accompanies a strategic partnership with Apple to create new opportunities for UnitedMasters' artists, who numbered around 1 million at the time. Funds are intended to hire global talent and expand the platform internationally. Apple's Eddy Cue highlighted UnitedMasters' role in empowering independent creators, aligning with Apple's commitment to the music industry's growth driven by such artists. Andreessen Horowitz's Ben Horowitz praised the platform's transformation of artist economics, aiming for a more profitable ecosystem. CEO Steve Stoute emphasized shifting power back to artists, using technology to enhance earnings beyond legacy models through distribution from mobile devices and new revenue streams like advertising. A subsequent $50 million Series C round in late 2021, led by Andreessen Horowitz, valued the company at $550 million and supported further technology development for artist-platform deals, lossless audio on Apple Music, financial tools, TikTok integration, and crypto partnerships. By then, UnitedMasters had grown to 1.3 million users.
Nov 2017Series AAlphabet (lead); 20th Century Studios; Andreessen Horowitz$70M-UnitedMasters, founded by music industry veteran Steve Stoute, launched in 2017 as a platform empowering independent artists by providing music distribution to major streaming services while allowing them to retain ownership of their masters. The company emerged from stealth with a $70 million Series A funding round on November 15, 2017, led by Alphabet (Google's parent company), with participation from Andreessen Horowitz, 20th Century Fox (noted as 21st Century Fox or Twentieth Century Fox in some reports), Floodgate, and others. This investment was personally championed by Alphabet co-founder Larry Page, who was motivated by the need for better tools to help artists track fans and monetize directly, addressing gaps in traditional label systems and services like Kobalt. The funding aimed to build a comprehensive suite of tools for independent artists, including distribution, marketing, fan engagement, and economic optimization, positioning UnitedMasters as a 'record label in your pocket' accessible via mobile devices. At launch, the company had a team of around 40 with expertise from Facebook, Dropbox, YouTube, SoundCloud, Pandora, and Instagram, and was already working with about 1,000 emerging acts focused on digital-native operations. The goal was to scale independence, creating opportunities for many artists like Chance the Rapper to succeed without ceding rights. Subsequent developments included a $50 million Series B in 2021 led by Apple, with reinvestments from Alphabet and Andreessen Horowitz, by which time UnitedMasters had over one million artists on the platform, including notable names like NLE Choppa and Lil Tecca, and introduced subscription tiers like Select for full royalty retention.

Who has invested in UnitedMasters?

4 investors have backed UnitedMasters across its funding rounds, including Andreessen Horowitz, Alphabet, Apple and 20th Century Studios.

Lead investors include Andreessen Horowitz, Apple and Alphabet.


UnitedMasters Investors

Investors in UnitedMasters by funding rounds participated
InvestorHQRoundsRoleFirst check
Andreessen HorowitzUnited StatesSan Francisco, CA3LeadNov 2017
AlphabetUnited StatesSan Francisco, CA2LeadNov 2017

This data is available for Pro users. Sign up to see all 4 UnitedMasters investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Investments by UnitedMasters

UnitedMasters has invested in 1 company to date.

Latest investment by UnitedMasters was on April 10th 2024. UnitedMasters invested in Udio in their $10M Seed round.


Latest Investments by UnitedMasters

Udio
Description
Udio is a New York-headquartered AI platform for music generation and production. Users input text prompts to create full songs with vocals, instruments, and lyrics in genres from pop to hip-hop. Launched publicly in April 2024, it supports stem separation, remixing, and commercial licensing, attracting collaborations with artists and labels worldwide.
HQ CountryUnited States
HQ City
New York City, NY
Deal Date10 Apr 2024
RoundSeed
Raised$10M
InvestorsTay Keith; Will·I. Am; Andreessen Horowitz; Oriol Vinyals; Mike Krieger; PTK Capital; Lonnie Rashid Lynn
Valuationundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all UnitedMasters investments and their VC round multiples.

Start Free Trial

UnitedMasters Competitors

UnitedMasters competitors include listed companies like YG Entertainment, Avex, Tips Music and JYP Entertainment, and private ones like Songtradr and BandLab.

Public and private companies comparable to UnitedMasters
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SongtradrUnited StatesLos Angeles, CAPrivate$24M-$530M-
YG EntertainmentSouth KoreaSouth KoreaPublicly listed$397M$73M$595M1.2x
BandLabSingaporeSingaporePrivate--$425M-
AvexJapanJapanPublicly listed$942M$40M$351M0.2x
Tips MusicIndiaIndiaPublicly listed$39M$30M$872M19.3x
JYP EntertainmentSouth KoreaSouth KoreaPublicly listed$598M$175M$931M1.1x

UnitedMasters Public Comps

UnitedMasters is still privately-owned, but its public comps include NRJ Group, CJ ENM, YG Entertainment, TV Tokyo Holdings, AMC Global Media, MD Entertainment, Zhejiang Talent TV & Film, Reservoir Media, GREE Holdings and Acast.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
NRJ Group$390M$74M0.3x0.3x1.6x1.7x
CJ ENM$3.7B$1.1B0.6x0.7x2.2x2.6x
YG Entertainment$397M$73M1.3x1.2x7.1x7.4x
TV Tokyo Holdings$1.1B$104M0.3x0.3x3.2x3.4x
AMC Global Media$2.3B$1.2B0.8x0.8x1.5x4.4x
MD Entertainment$28M($4M)17.7x-(138.5x)-
Zhejiang Talent TV & Film$17M($52M)29.2x-(9.5x)-
Reservoir Media$176M$68M6.1x5.9x15.7x14.2x

This data is available for Pro users. Sign up to see all UnitedMasters competitors and their valuation data.

Start Free Trial

Common questions about UnitedMasters

When was UnitedMasters founded?UnitedMasters was founded in 2017.
Where is UnitedMasters headquartered?UnitedMasters is headquartered in New York City, NY, United States.
Is UnitedMasters publicly listed?No, UnitedMasters is a private, VC-backed company.
What is UnitedMasters' valuation?UnitedMasters was last valued at $550M in its Series C in October 2021.
How much funding has UnitedMasters raised?UnitedMasters has raised $170M across 3 funding rounds.
What was UnitedMasters' last funding round?UnitedMasters' last funding round was a $50M Series C in October 2021, led by Andreessen Horowitz.
Who are UnitedMasters' investors?UnitedMasters' investors include Andreessen Horowitz, Alphabet, Apple and 20th Century Studios.
Which companies are comparable to UnitedMasters?Companies comparable to UnitedMasters include Songtradr, YG Entertainment, BandLab, Avex, Tips Music and JYP Entertainment.
How many companies has UnitedMasters invested in?UnitedMasters has invested in 1 company, including Udio.
What was UnitedMasters' last investment?In April 2024, UnitedMasters invested in Udio's $10M seed round alongside Tay Keith, Will·I. Am, Andreessen Horowitz and 4 other investors.

See companies similar to UnitedMasters

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial