Co-founder and CEO of beatBread Peter Sinclair dies aged 50
Co-founder and CEO of beatBread Peter Sinclair died on Saturday August 23, surrounded by his family in Los Angeles, after a short illness.
Co-founder and CEO of beatBread Peter Sinclair dies aged 50
Pete Sinclair, aged 50, built a transformative music tech company that has provided tens of millions of dollars in capital to thousands of independent artists, songwriters, and labels. beatBread’s unique financing structure allows borrowers to retain ownership and creative control, principles that reflected Sinclair’s commitment to artist independence.
He also held positions at Universal Music, Score Big, Green Dot and McKinsey.
“Peter was a passionate and dedicated leader, whose unshakable belief in the importance of artist independence has helped inspire every decision we’ve made,” said John Haller, who co-founded the company with Sinclair in 2020. “We mourn him deeply, and we’re as committed as ever to honoring his legacy as we move forward.”
beatBread advances range from $1000 to $10 million on existing catalog, as well as new and unreleased music. Advances can equal up to 8X historical revenue and are repaid from a share of streaming and airplay revenues over a period of the client’s choosing, leaving touring, synch, and merchandise revenue streams untouched.
In a move that underscored Sinclair’s commitment to independent music, last year Beatbread launched a platform that provides side-by-side comparisons of funding sources. It allows potential borrowers to compare multiple offers from a range of distributors and music companies, along with beatBread’s own capital sources.
What’s Next For beatBread
While “mourning the loss of a remarkable leader and friend,” the beatBread team intends to “forward the mission that Peter built” and “continue the work to which he dedicated himself with such passion.”
Bruce Houghton is Founder & Editor of Hypebot, Senior Advisor at Bandsintown, a Berklee College Of Music professor and founder of Skyline Artists.
