Music Benefactors, the new Nashville-based company which offers SEC registered crowdfunding for the music industry, has launched its first artist partnership with the band The Latin Dead.
Music Benefactors helps recording artists and various types of independent music businesses raise capital for new projects, or monetize catalogs, by partnering with fans and investors. Unlike traditional crowdfunding, fans and investors share the income that the projects generate. Independent businesses can raise up to $5 million per year.
Founder and CEO Matt Lutz says, “Music Benefactors gives artists the money needed to be truly independent. In the past, ‘independent’ has meant not being signed to a major label and too poor to properly market music. We want artists to be well-funded independents with control of their music. Fans and investors help them accomplish this.”
He continues, “Fans have always driven the music business. Our platform enables them to take larger roles in helping artists make great music. Fans are providing the capital, which allows independent artists and music businesses to compete and thrive in an industry dominated by enormous corporations.”