Machine learning is helping unsigned artists make Spotify pay

In 1997, David Bowie partnered with an insurance company to create Bowie bonds – a kind of asset-backed bond that gave him (and investors) a share of the current and future royalties of his music. Bowie correctly predicted that his music would only become more popular, but he didn't want to wait years into the future to reap the rewards. But maneuvers like this are pretty much only open to superstars, like Bowie. For a struggling musician hoping to break into the industry, the way that it's all set up can be a massive headache. When musicians get signed to a record label, they can get an advance on future royalties, in order to finance renting equipment or studio space, or even shooting music videos.