Stem raises $8M to get music artists paid more seamlessly


While music streaming has become more and more commoditized, artists still have a wide array of places to distribute their songs like Spotify, YouTube and Apple Music — but getting paid properly can start to complicate things.

That problem gets even more difficult when there are multiple people collaborating on the same song and it’s not clear who is getting how much of a cut from the revenue share from those services. That, on top of that the general unpredictability of an artist’s revenue, has left a hole that Stem co-founder Milana Rabkin thinks her and her co-founders startup Stem can fill. To do that, the company has raised $8 million in financing led by Evolution Media and Aspect Ventures, along with several other strategic investors and continuing participation from…

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