Stem now has $100m of advances to offer independent artists and labels, as it challenges ‘heartbreaking’ record deals

Stem has confirmed that the new financing product, Scale, is backed by CoVenture via a capital partnership that will enable Stem to deploy over $100m of advances to both its independent artist and record label clients. Once artists have received their advance (i.e. loan), they will gradually pay the money back via what Stem calls a “flat percentage fee”, which includes a margin for the company itself.

Source: Stem now has $100m of advances to offer independent artists and labels, as it challenges ‘heartbreaking’ record deals

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