Lyric Financial

Founded in 2007 by Eli Ball, Lyric Financial established itself as a financial services and technology company focused on the global music industry. Drawing on his varied background as a concert promoter, A&R director, record producer, and investment banker, Ball aimed to provide financing solutions for musicians who were often overlooked by traditional banks. The company's business model centers on providing royalty-based financing, allowing artists, songwriters, producers, and labels to access funds without surrendering ownership of their music rights.

Lyric Financial offers a range of financial products, including royalty advances, catalog loans, and lines of credit. A key service is its virtual ATM platform, known as vATM or SNAP*, which enables creative professionals to request advances on their future earnings 24/7. This automated system was designed to provide quick and convenient access to capital for funding projects, tours, or personal expenses. The company generates revenue by providing these financing solutions, having processed over 24,000 transactions and funded over $100 million by early 2021. Its clients include a wide spectrum of music professionals, from independent artists to high-profile clients, and it works with major record labels, publishers, distributors, and performance rights organizations like ASCAP, BMI, and SESAC.

A significant milestone in the company's history was its partnership with TuneCore in 2017, which launched the TuneCore Direct Advance service, making Lyric's vATM technology available to TuneCore's U.S.-based artists. This collaboration later expanded internationally. In October 2021, Lyric Financial was acquired by the Swiss music fintech company Utopia Music for a reported $8 million. The acquisition was intended to enable Lyric Financial's expansion and integrate its services into Utopia's larger data-driven platform, aiming to accelerate payments for creators. Following the acquisition, Lyric Financial was expected to continue servicing its existing client base as a subsidiary of Utopia. However, reports from July 2024 indicate that the former owners of Lyric Financial have been in a legal dispute with Utopia over the final payment of the acquisition deal.

Keywords: music finance, royalty advance, artist financing, catalog loans, Eli Ball, music loans, music fintech, TuneCore Direct Advance, royalty-based financing, virtual ATM, music creator funding, songwriter loans, producer financing, music publishing advances, record label financing, Utopia Music, SNAP* vATM, artist credit line, music career funding, entertainment finance