Sony/ATV Partners With Lyric Financial Fast Royalty Advances To Songwriters, Publishers
Sony/ATV has partnered with Lyric Financial to enable their U.S. songwriters and publishing clients to request advances in less than a minute.
The Lyric Financial vATM is a new component of Sony/ATV's new SCORE royalty portal which songwriters and their managers real-time access to their current royalty account. In addition, the portal's new SCORE CARD sets out in graphical form, songwriters' earnings by territory with a top-view summary by income type, song and source for both current period and historical periods.
"We are always looking for ways to provide the highest level of service to our songwriters," said Sony/ATV Music Publishing SVP of Worldwide Administration, Dale Esworthy. "Giving our writers the ability to see their current earnings and access them 24/7 when needed is an important innovation that we are thrilled to provide. We are excited to be the first music publisher to offer the virtual ATM."
The vATM was developed by Lyric Financial Founder and Chief Executive Eli Ball to give creatives the option to access their current and projected royalties. Established in 2007, Lyric Financial provides financing to working songwriters, producers, musicians, independent labels and music publishers who had previously been underserved by the financial services industry.
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Artist: Mr. Esworthy sir? Thanks for letting me see what my projected royalties will be. I could use an advance on those funds – would you mind helping us out?
Esworthy: Wait, you want a what? A LOAN? From US? Oh that’s rich.
(calls Marty Bandier in to the office) “Hey Marty! Get a load of this! Kid wants an advance on his royalties!!”
(Bandier enters the room, chewing on a Cuban cigar)
Bandier: “A what?! A LOAN?! Get the fuck outta here, kid, whadda we look like a bank? Here – call up this loanshar… uh… Lyric Financial. Ask for Eli. He’ll take care of ya. For a price.”