Thursday (Sept. 10), music financing platform beatBread announced that Andreea Gleeson, who previously served as CEO at TuneCore, will become its next leader. Gleeson takes over to oversee the platform’s growth of its AI-supported underwriting process and its move into international markets beyond the United States.
Peter Sinclair died in August 2025, and Tracy Maddux stepped in as interim CEO until Gleeson took over the role. Sinclair was the company’s founder, and Maddux held the position after his death.
Gleeson’s Rise at TuneCore
Gleeson joined Believe-owned music distributor TuneCore in 2015 and rose to CEO in 2021. During her tenure, she oversaw TuneCore’s expansion into several new global markets, the evolution of its publishing administration business to include artist development, and the launch of its artist discovery platform TuneCore Accelerator.
The investors cite that record as the reason for the hire.
“What drew me to beatBread is that Peter and this team solved a real problem for independent artists: how to access growth capital without giving up ownership or control,” Gleeson said in a statement.
“They’ve built sophisticated technology and a funding model that consistently gives artists more choice. I’ve spent much of my career focused on what independent artists will need next, and access to better capital on artist-friendly terms is one of the most important opportunities ahead.”
The $124 Million Plan
beatBread started in 2020, offering funding to independent artists, labels and songwriters so they can keep control of their music. According to the company, it has issued roughly $100 million in advances across about 2,000 deals with creators.
Gleeson’s job now is to deploy some of the $124 million beatBread raised last year in credit and equity capital from Citi, Deciens Capital and others. The goal is to scale the company’s AI-enhanced underwriting technology internationally.
That technology is central to beatBread’s pitch.
In its release announcing Gleeson’s hire, the company says she will work to develop existing and new relationships with labels and distributors, and work with beatBread’s tech group to scale its proprietary chordCashAI technology, “which underpins the company’s ability to assess, price and structure funding across a broad range of creators and music businesses.”
The Global Independence Fund
The international focus is not new for beatBread.
In October last year, the company introduced a $100 million Global Independence Fund aimed at helping independent labels and distributors. The fund was partially a reaction to Universal Music Group’s purchase of Downtown Music.
Deciens Capital’s general partner Ishan Sachdev, a longtime investor in beatBread, positioned the chance on a worldwide scale.
beatBread’s “technology and its ability to fund artists well … creates a significant opportunity to scale the business across a much larger global market,” Sachdev said. “Andreea brings the operating experience and track record of building global businesses at the intersection of technology and music to capitalize on that opportunity.”
Maddux Stays On
Gleeson is taking over as CEO of beatBread, and Maddux will remain involved as a supporter during the leadership change. The two have both been named to the beatBread board of directors. Maddux previously ran CD Baby, which competes with TuneCore, from 2010 to 2020.
“Our priority over the course of the past year has been preserving the momentum that Peter [Sinclair] built, and positioning the company for long-term success,” said Maddux. “Andreea brings a rare combination of deep artist credibility, operational excellence and global scaling experience, and she is exactly the right leader to take beatBread to the next level in its growth journey.”
Key Numbers in the Transition
- New CEO: Andreea Gleeson, former TuneCore CEO, announced Thursday (Sept. 10)
- Predecessor: Tracy Maddux, interim CEO since founding CEO Peter Sinclair’s death in August 2025
- beatBread founded: 2020
- Advances issued: Around $100 million through roughly 2,000 transactions
- Capital raised last year: $124 million in credit and equity from Citi, Deciens Capital and others
- Global Independence Fund: $100 million, launched last October
- Gleeson at TuneCore: Joined 2015, CEO from 2021
The Road Ahead for beatBread
Sinclair’s passing left his company in a steady but shifting state, and Gleeson’s permanent appointment now settles the question of who will lead it.
The priorities for the near term are plain to see: building out the underwriting technology further, strengthening ties with labels and distributors, and extending the platform’s reach past the borders of the United States.
The bet is that Gleeson’s global experience at TuneCore translates directly to beatBread’s financing model.
The founding promise for independent artists has not changed: getting funding without losing ownership or control. Gleeson’s task is to make that promise hold up on a bigger stage, across more nations, with more money backing it.
According to the company, chordCashAI lets it measure and set prices for funding across a wide range of creators and music companies. That assertion is about to face scrutiny on an international scale.
That Maddux remains on the board points to a steady hand at the helm. His ten years at CD Baby give him a clear view of the field Gleeson is stepping into. He has watched the independent distribution business from the other side, and he has just guided beatBread through the loss of its founder.
What independent artists need has defined Gleeson’s career, and at both TuneCore and beatBread she has addressed those needs directly. At TuneCore, she concentrated on distribution, publishing administration and artist development. Now at beatBread, her focus has shifted to financing.
The company was built on the idea that artists don’t need to sell their catalogs to finance their work. That idea drew the $124 million raised last year in credit and equity funding. Now it has a new leader to push it ahead.
Source: billboard.com
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