UnitedMastersLogo-600x315Independent artist distribution platform UnitedMasters has secured a $50 million Series B investment.

The round is led by Apple with additional funding from two existing backers: Google parent Alphabet and Andreessen Horowitz.

Today’s news marks another significant financial milestone for New York-headquartered UnitedMasters, following the company’s $70m funding round led by Google/Alphabet in 2017.

UnitedMasters says that the investment will fuel its “mission to enable artists to maintain full ownership over their work while expanding their economic opportunity and introducing them to millions of new fans”.

The move also marks another step from Apple into the independent artist space, following its acquisition of prominent artist services, A&R and distribution company Platoon in 2018.

According to UnitedMasters, Apple’s investment kicks off a strategic partnership with the tech giant that will “create dramatic new opportunities for UnitedMasters artists”.

Read more in musicbusinessworldwide,com