beatBread, the indie music finance platform, has announced the passing of its co-founder and CEO, Peter Sinclair, who died on Aug. 23 in Los Angeles after a brief illness. He was 50.
Sinclair was a respected leader in both the music and fintech industries, with a career that included roles at ScoreBig, Green Dot and McKinsey. Prior to launching beatBread in 2020, he was the longtime senior vp of consumer and e-commerce at Universal Music Group.
In a statement, a beatBread representative expressed grief at Sinclair’s sudden passing, saying the entire community is “mourning the loss of a remarkable leader and friend, and we remain steadfast in carrying forward the mission that Peter built.”
John Haller, who co-founded the company with Sinclair, commented, “Everyone at beatBread is shattered by this news. Peter was a passionate and dedicated leader, whose unshakable belief in the importance of artist independence has helped inspire every decision we’ve made. We mourn him deeply, and we’re as committed as ever to honoring his legacy as we move forward.”
Under Sinclair’s leadership, beatBread secured a $124 million funding round earlier this month to expand its lending products for independent artists, songwriters and labels. beatBread offers a wide range of advances to artists, with clients pledging a portion of their back catalog or future royalties in exchange for funding, which is often used for production, marketing and other costs. The platform’s proprietary AI and deal-comparison tools allow artists to choose from multiple funding sources, supporting creative independence.
The company said it remains focused on advancing the “work to which he dedicated himself with such passion.”
He is survived by his wife of 19 years, Kate Zaia Sinclair, along with their daughter, Mary, and son, John. A memorial service will be held on Friday, Sept. 5 at 10:30 a.m. at San Marino Community Church in San Marino, Calif.
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