Sony/ATV offers virtual ATM for songwriters
The music publishing giant taps into Lyric Financial’s new platform to enable US writers to access current and projected royalties
Lyric Financial, the financial services and technology company serving the global music industry, announced today that they have partnered with the world’s largest music publisher, Sony/ATV, to provide their virtual ATM platform. The new service enables Sony/ATV’s US writers and publishing clients to request advances in less than a minute via Sony’s SCORE royalty portal.
“We are always looking for ways to provide the highest level of service to our songwriters,” said Sony/ATV’s 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 at their convenience. 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.
The vATM powered by Lyric Financial is an important component of Sony/ATV’s new SCORE royalty portal. SCORE allows its 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.
for more information about Lyric Financial and the vATM, visit lyricfinancial.com