"With Concord’s backing, we gain more fuel for the engine and a global team to help us scale," says Stem's CEO.
The acquisition would help catalog-heavy Concord develop its frontline business.
It's increasingly challenging for some distributors to win seven-figure bidding wars for artists, according to a pitch deck from the distributor Stem.
"Our approach requires artists that see the big picture and are not just chasing the largest check that they could find," says Stem general manager Seth Faber.
The LA-based distribution and payment company said it will offer more advances to artists who use their catalogs for backing.
The distributor has launched a new product that makes royalty data easier to read.
