Lyric Financial Funds Royalty Advances in Thirty Countries
Nashville, TN – (July 24, 2018) – In March, Lyric Financial, the leading entertainment financial services company, announced the launch of international advances to TuneCore & SonyATV clients. By pairing with Hyperwallet, the top global payout provider, Lyric Financial has been able to reach creatives worldwide. In less than 4 months, the company has provided royalty advances to artists, songwriters, record labels, and distributors in thirty countries across 6 continents.
“The success of the international launch, has proved the universal need for funding within the music community worldwide. Providing easy access for the global music community to obtain advances on their earnings has enabled them to invest into their careers, by using the funds to produce and promote new projects,” says Eli Ball, Lyric Financial Founder/CEO. “I am proud of our ability to serve an artist in Russia, Argentina, Norway, or Nigeria, just as easily as an artist in the U.S. Teaming up with Hyperwallet, gave us the capacity to fund the global music community in an efficient manner.”
“Sending advances internationally is a complex process,” explains Brent Warrington, Hyperwallet CEO. “When we created this partnership with Lyric Financial, our goal was to simplify the process in order to help creatives gain more financial control over their careers. After seeing what we have been able to accomplish in a few short months, it is clear our partnership is on the right path.”
Lyric Financial plans to continue growing their international client base. “Lyric Financial has always valued being an active member in the global music community. We look forward to working with international music industry organizations that advocate, educate and support artists and their music,” says Ball. The company will be announcing new products and services to better serve the global music community in the coming months.
About Lyric Financial: Music industry veteran, Eli Ball founded Lyric Financial in 2007, with the mission to empower artists for life. With services that include royalty advances, catalog loans and music business lines of credit, Lyric Financial is able to provide meaningful financial solutions to the members of the global music community. Lyric Financial is proud to work with all the major recording companies, music publishers, music distributors, ASCAP, BMI, SESAC and SoundExchange. Also, we are honored to be a supporting member of the American Association of Independent Music (A2IM).
In early 2017, Lyric Financial launched the innovative virtual ATM with SonyATV and Tunecore that automates the advance process. The system allows artists, songwriters, indie labels and publishers to view their projected earnings and request a cash advance on their royalties or sales in less than a minute and can be done from any mobile device or laptop – anytime, anywhere in the world.