Any artist working with Cash App will keep ownership of their work and wo n’t have to pay back the money, according to the company, which makes the partnerships seem more like grants than advances. This includes whether there are limits on how much money they’ll invest. Artists will be hired throughout the program, and Cash App Studios did remain invited-only.
Among the list of original music artists Cash App has brought into the system are Grammy-winning singer Victoria Monét — whose credits include Ariana Grande’s” Thank U, Future” and” Seven Rings” — together with artist-producer Cristoforo Donadi, music songwriter Jacquie Lee, artist Angelnumber8, rapper-producer Tyrese Pope, and Texas musicians Reggie and Monaleo. Additionally, Cash App provides financing for artists in the fields of film and clothing.
” We’ve longer upheld the importance of artistic expression at Cash App”, Brian Grassadonia, result at Cash App, said in a statement. ” With the introduction of Money App Studios, we’ll continue to support the flexibility of the designer, both economically and effectively. We are excited to help emerging performers who are unlimited in their perception with this new program in line with our guiding theory of financial independence.
It’s not as difficult as it first seems to think that Cash App is launching designer collaborations because its advertising and content campaigns have included Megan Thee Stallion’s work. The company is constantly name-checked in hip-hop verses. Square, the parent company of Cash App, purchased a majority stake in Tidal earlier this year, with Square CEO Jack Dorsey citing the acquisition as another way to support music artists.
Finding new ways for artists to support their work is the guiding principle, Dorsey said in March. It’s unknown how any of these artists will be connected to Tidal.
Companies looking to collaborate with independent artists and offer alternatives to the major-label system are using financial assistance more frequently as marketing tools. While fellow distribution and publishing service Create Music Group launched real-time payments for its artists earlier this year, according to a report from Rolling Stone in August, independent distributor UnitedMasters would begin offering cash advances and real-time payments to a select group of artists on its platform.
And while you should n’t expect the broader music business to embrace free payouts, the program’s first round of creators are welcoming the new partnership. ” When an artist is able to fully own the catalog but still get the funding, you are getting what you need in the present to set you up for 50 years into the future”, Ezra Averill, Reggie’s manager and a partner at Stomp Down Management, said in a statement. Money can flow in and out in a single day, but the value you create does n’t. You want to ensure that your holdings on to that value. The value is constant despite the cash’s fluctuation.