Create Music Group puts out a credit card for artist based on aggregating data points from streaming services

 

By Emmanuel Legrand

Music technology company Create Music Group has launched a beta version of Create Carbon, a first-of-its kind credit card for music creators that should allow for the first time artists to see how much money they are making on a daily basis, by aggregating millions of different data points from sources like Spotify, and Apple Music, and YouTube.

  Create Carbon uses algorithmic technology to accurately predict earnings for its clients on a daily basis, allowing the service to deliver that money to clients in real time as soon as it is earned, explained Jonathan Strauss, Founder and CEO of Create Music Group.

  Initially launching as a pilot, Create Carbon is currently being rolled out to select Create Music Group clients. The card gives clients immediate access to their earnings. "With Create Carbon, the company now gives creators the ability to access their royalties as soon as they’re earned, rather than wait to receive them via regular monthly payouts," said the company in a statement. 

Enhance creators' business

  It added that since the revenue is based on actual earned income, the company will charge only minimal fees or interest. “Our hope is that Create Carbon is just the first in an array of financial tools and services we can offer artists and creators to enhance their businesses,” said Create Co-Founder and COO Alexandre Williams.  

 
  Zach Friedman, co-founder of Homemade Projects, a management company whose roster includes Surfaces, believes that Create Carbon could be "an enormously powerful tool for independent artists" thanks to the ability to access royalties as soon as they are earned. "[It] gives our roster the power to fund new projects, marketing initiatives or tours without having to renegotiate for an advance or accept onerous loan terms," he said.