Lyric Financial Announces Mechanical Royalty Advance Program

Film Music Magazine • June 17, 2009

Lyric Financial has announced a new program funding mechanical royalty advance requests for writers and publishers who have agreements with the major publishers, UMG, Warner Chappell, EMI and Sony.

Over the past year, the company has received over 500 requests from songwriters, artists, producers, and publishers for advances on their ASCAP, BMI and SESAC performance royalties. Responding to market demand, the company has new introduced a mechanical royalty advance program in addition to their existing performance royalty advance program. The minimum request for a mechanical royalty advance is $25,000.

Lyric founder Eli Ball said, “While mechanical royalties are not as strong as they once were, they are still a significant source of income to many writers and publishers. We have worked diligently to create the same simple, safe and transparent process as we have for performance royalty advances.”

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