Artist Growth and Pinnacle Financial Partners Announce Strategic Partnership for Financial Services in Live Entertainment
Artist Growth, the leading artist management software platform, and Pinnacle Financial Partners, a leading financial services firm for the entertainment industry, today announced a strategic partnership and equity investment aimed at bringing a new model of financial services to touring entertainers.
“We couldn’t be more excited about our partnership with Pinnacle,” said Matt Urmy, Artist Growth founder and chief strategy officer. “Their music, entertainment and sports team has demonstrated a commitment to providing real support to working artists and built an internal culture around that mission. This is in lock-step with who we are at Artist Growth. We can do so much together to help artists unlock the capital they need to focus on their art.”
Artist Growth already has marked several firsts for the music industry with its award-winning tour management platform – the leading business tool for musicians "from start to finish,” according to Bloomberg Businessweek. To take its services to a new level, the company sought out a strategic partner that could make both a financial investment in its future and expand the capabilities of the platform.
A partnership with Pinnacle brings expertise in all aspects of the music business and the potential for complete financial integration for artists on tour and the teams that manage them.
“The industry has changed, and Matt is way ahead of the curve with Artist Growth,” said Andy Moats, Pinnacle’s director of music, entertainment and sports. “As touring has taken over and become one of the biggest money makers for all involved, the systems for managing it haven’t kept up. Artist Growth has figured out a way to put more power and control into the hands of the artists and the teams who support them. We are ready to help them unlock the further potential in their platform to better serve those on tour and those who finance it.”
Pinnacle has become a go-to bank for artists, labels, publishers and other entertainment professionals because it works with artists and songwriters at every stage of their careers, offering start-to-finish financial services unmatched in the space.
With a roster of bankers who are industry vets, financial experts and passionate music lovers, the team has earned a reputation for innovation based on intimate knowledge of the music world. They have garnered notice in Music City and beyond for leading the way in recognizing the financial potential in music royalties and other artistic, intangible assets.
With this new partnership as a foundation, Pinnacle’s model of using music industry knowledge to inform financial services is poised to take a huge leap forward. The firm will work together with Artist Growth on platform integrations and related financial innovations. Very soon, music professionals will be able to take full advantage of what their combined prowess can produce.
About Artist Growth
Artist Growth is the only solution on the market today that allows entertainment professionals to comprehensively manage their live tour businesses in one place. With a robust set of tools covering event management, tasks, finances, merchandise and data reporting, Artist Growth provides clients with a refined set of industry best practices for organizing, managing and analyzing information on-the-go. Artist Growth is for musicians, artist managers and business managers, labels, agencies and other industry professionals looking to streamline their workflows into a centralized, cloud-based and completely mobile-enabled system. Learn more at: http://www.artistgrowth.com
About Pinnacle Financial Partners
Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm earned a place on FORTUNE’s 2017 and 2018 lists of the 100 Best Companies to Work For in the U.S., and American Banker recognized Pinnacle as the sixth-best bank to work for in 2017. The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $22.9 billion in assets as of March 31, 2018. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 11 primarily urban markets in Tennessee, the Carolinas and Virginia. Additional information concerning Pinnacle, which is included in the NASDAQ Financial-100 Index, can be accessed at www.pnfp.com.