Lyric Financial
Royalty advance fintech for artists, songwriters and labels · Nashville, Nashville
- Founded
- 2007 to 2021
- Entered
- 2007
- Status 2026
- Acquired
- Metro
- Nashville
- Embeddedness
- 1 connections
- Confidence
- verified · strongest source trade or financial press
Method
Lyric Financial is founded in Nashville in 2007 by Eli Ball to advance cash against future royalty streams to artists, songwriters, producers, labels and publishers, and advances more than 100 million dollars by 2021. Swiss fintech Utopia Music buys it on October 29, 2021 for 8 million dollars, 5 million up front and two deferred payments of 1.5 million, as its entry into the United States. When Utopia, later renamed Proper Music Group, withholds the final payment claiming the ARTiE product missed conditions, the former owners including Tennessee based Music World Entertainment Corporation sue in September 2023 and an arbitration award of about 1.863 million dollars is upheld by the Southern District of New York on July 19, 2024. Utopia lays off about 15 percent of staff in April 2023 amid tax debt allegations. The rung that breaks is the acquirer's balance sheet, not the Nashville advance book.
Open on the map Directory Suggest a correction
The path: money and goods moving
- acquired byUtopia Music (Proper Music Group)Utopia Music acquires Lyric Financial on October 29, 2021 for 8 million dollars including two deferred 1.5 million dollar payments, the last of which becomes the subject of a 2023 lawsuit and a 2024 award of about 1.863 million dollars.2021