Stem has been helping artists to release their music as a distributor for some time. Now it’s launching a new feature, ‘Stem Check’, which it clearly hopes will win some artists over to its platform.
“Think you’ve just been offered an ‘artist-friendly’ deal? Let us run the numbers for you,” is how the company introduced it yesterday. “We’ve set up a way to give you a lightweight financial model that considers your current revenue, assumptions for growth and the deal terms you are presented so that you can see what goes into your pocket and theirs.”
Stem says the feature will be offered to artists, managers and independent labels, who’ll be invited to bring their earnings reports, summary of deal terms / contracts and their laptop to Stem’s office in Los Angeles on “select Tuesdays from 4-7PM starting in October”.
Obviously, this is being positioned as a benefit for artists, but clearly there’s also some benefit to Stem, in terms of getting a close-up view of the deal terms being offered by rival distributors.