Music Business Worldwide

Stem

After pivot away from DIY distribution, Stem welcomes ex-Venmo COO Mike Vaughan to Board of Directors

Fintech expert will "provide industry insights and connections that will propel Stem's artist and label offerings"

Having raised $12.5m to date, Stem quits DIY distribution, increases its fees and focuses on ‘top performing artists’

Firm launches 'Stem Direct' which it says will super-serve VIP artists

Financial platform Stem, which counts Frank Ocean and Childish Gambino as clients, raises $8m

Total money raised so far by royalties software tops $12.5m