Tracy Maddux Appointed Interim CEO of beatBread

Former CD Baby and Downtown Music Holdings exec Tracy Maddux has been appointed interim CEO of funding platform beatBread.

Why it matters:

• Maddux’s appointment follows the passing of beatBread Co-Founder and CEO Peter Sinclair on August 23.

• He will serve as a long-term advisor to the board, and will lead the company as it searches for a permanent leader (he will be involved in that process).

• Maddux will focus on maintaining the company’s growth trajectory, advancing platform innovation, and expanding partnerships.

• His appointment comes not long after beatBread’s announcement of a $100m Global Independence Fund to provide indie artists and labels with resources that level the playing field.

Backstory:

• Maddux was CEO of CD Baby from 2010 to 2020.

• He was subsequently Chief Commercial Officer of Downtown Music Holdings.

• He is also an investor and advisor in music technology, and earlier this year led a multi-million-dollar investment round in rights management platform OpenPlay.

What they said:

• Tracy Maddux: “Peter Sinclair built beatBread on the belief that independent artists deserve access to the same financial tools as major-label acts, without sacrificing ownership or control. Having known Peter and admired his approach since beatBread’s founding, I’m deeply honored to help carry that vision forward. The company has built an exceptional foundation, with talented people, innovative technology, and growing trust across the industry, and I see enormous potential to expand that impact globally.”