TuneCore Teams up with Utopia Music to Modernize Financial Opportunities for Indie Artists

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TuneCore artists have received almost $30 million from Utopia’s Lyric Financial

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"By bringing in Utopia’s streamlined financial services support, TuneCore expands our suite of artist services to more holistically benefit Creators at all stages of their musical journeys.” - Andreea Gleeson, CEO, TuneCore

Leading independent DIY digital music distributor TuneCore, a division of global digital music company Paris-based Believe, has partnered with Utopia Music and Lyric Financial to modernize funding opportunities for independent artists through their program, TuneCore Direct Advance. Utopia, headquartered in Zug, Sweden, recently expanded into the US market with its acquisition of Nashville-based Lyric Financial, the US music industry’s leading financial services company.

TuneCore has worked with Lyric Financial since 2016, and in that time, Lyric has provided thousands of TuneCore artists with close to $30 million in accelerated royalty payments. This year alone, TuneCore artists were given access to more than $7 million in accelerated royalty payments. The new agreement with Utopia Music will allow TuneCore Direct Advance to continue funding artists’ upcoming projects, while introducing innovative funding initiatives specifically designed with indie artists in mind.

Said Andreea Gleeson Chief Executive Officer, TuneCore, “We recognize that independent artists are often self-financed, and many can use financial support in order to continue moving forward in their careers. By bringing in Utopia’s streamlined financial services support, TuneCore expands our suite of artist services to more holistically benefit Creators at all stages of their musical journeys.”

Markku Mäkeläinen, Chief Executive Officer, Utopia Music stated, “At Utopia, we believe in Fair Pay for Every Play, and we believe that every Creator deserves best-in-class service that will allow them to succeed. Through our new Financial Services unit and our partnership with TuneCore, we can help faster royalty payments by using consumption analytics collected from our more than 33 billion data points. This means more and quicker access to financing for independent Creators.”

Nashville-based hip hop TuneCore artist Jelly Roll, who received his first RIAA Gold record this year, recalls receiving his first TuneCore Direct Advance back in 2016, “Honestly I wasn’t sure what the catch was and investigated a little further and it was truly mind-blowing.”

“As artists, we are always trying to balance our present life with our future life,” New York-based rapper and Direct Advance recipient I.Am.Tru.Starr says. “Sometimes they don’t always line up, but we press through and do what we gotta do because we believe in what we’re doing: our art.”

For more information on TuneCore Direct Advance, click HERE.

About Utopia Music
Utopia Music was founded in Switzerland in 2016 and now has presence in Zug, London, Stockholm, Brussels, Helsinki, Nashville, Vienna, and Sydney and has nearly 200 employees worldwide. Its mission is to build a new music ecosystem that will help the entire music industry by creating new revenue streams, consolidating data, and drastically reducing the restrictive administrative overhead limitations created by antiquated systems. The goal is to free up available revenues for Creative Processes and Creator Development, and thereby, create a Utopia for the Music Industry.

About TuneCore
TuneCore is the global platform for independent musicians to build audiences and careers – with technology and services across distribution, publishing administration and a range of promotional services. TuneCore Music Distribution services help artists, labels and managers sell their music through Spotify, Apple Music, Amazon Music, Deezer, TikTok, Tencent and more than 150 download and streaming stores worldwide, while retaining 100 percent of their sales revenue and rights for a low annual flat fee. TuneCore Music Publishing Administration assists songwriters by administering their compositions through licensing, registration, worldwide royalty collections, and placement opportunities in film, TV, commercials, video games and more. The TuneCore Artist Services portal offers a suite of tools and services that enable artists to promote their craft, connect with fans, and get their music heard. TuneCore, part of Believe, is headquartered in Brooklyn, NY, with offices in Los Angeles, Nashville, Atlanta, and Austin, and operates globally through local teams based in the UK, Germany, France, Belgium, Italy, Russia, Brazil, Mexico, Nigeria, South Africa, India, Japan and Singapore across 5 continents. http://www.tunecore.com

About Believe
Believe is one of the world’s leading digital music companies. Believe’s mission is to develop independent artists and labels in the digital world by providing them the solutions they need to grow their audience at each stage of their career and development. Believe’s passionate team of digital music experts around the world leverages the Group’s global technology platform to advise artists and labels, distribute and promote their music. Its 1,401 employees in more than 50 countries aim to support independent artists and labels with a unique digital expertise, respect, fairness, and transparency. Believe offers its various solutions through a portfolio of brands including TuneCore, Nuclear Blast, Naïve, Groove Attack and AllPoints.

Believe is listed on compartment A of the regulated market of Euronext Paris (Ticker: BLV.PA, ISIN: FR0014003FE9).


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