Utopia launches new Financial Services business unit

THE NEW BUSINESS UNIT WILL FOCUS ON ACCELERATED ROYALTY PAYMENTS
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  • With its vision of “Fair Pay for Every Play”, Utopia Music is now launching a new Financial Services business unit, which will focus on accelerated Royalty Payments based on consumption analytics
  • Utopia Music’s technology will be able to help record labels and distributors support their Creator communities by providing them with the intel necessary to accelerate royalty payments and strengthen the Music Industry’s value chain
  • The Financial Services Business Unit will be led by Jörg Auf der Maur, as Vice President, a seasoned Swiss banker with an extensive career in roles as CRO, CFO, and CEO in various European banks
  • Utopia Music also secured a partnership with Liechtenstein-based, VP Bank, one of the top innovators in banking services in Europe and with TuneCore, which provides overarching data insights from DSPs

Zug, Switzerland, December 16th 2021 - Utopia Music, the Swiss Music fintech company, launched its Financial Services business unit focused on accelerated Royalty Payments for Creators, which will allow record labels and distributors access more comprehensive consumption analytics to enhance their services.

The new department will be led by Jörg Auf der Maur, who will serve as Vice President and who is a seasoned banking executive with an extensive career in various top management positions in several Swiss and European banks and a big accounting firm.

“At Utopia Music it’s our mission to create Fair Pay for Every Play and that’s why we strive to be an important partner for the Industry we serve,” said Auf der Maur. “Our new Financial Services unit is commissioned to help record labels and distributors facilitate and expedite accelerated royalty payments by using consumption analytics collected from our more than 33 billion data points. This will allow financial institutions to recognize the true Value of Music for the first time. We are living in exciting times in which unlocking Music as the asset class of the future is now possible.”

Alongside, Utopia Music also secured a partnership with Liechtenstein-based, VP Bank, one of the innovators in banking, based in Liechtenstein. In the cooperation between Utopia and VP Bank, VP Bank will structure solutions that complement Utopia’s business model on the financing side.

“At Utopia, we believe in supporting and acting in the best interest of all sectors of the Music Industry through the entire value chain,” said Roberto Neri, Chief Operating Officer at Utopia Music. “By making this data accessible to the whole industry and allocating accelerated royalties, we will be able to strengthen our future together. We bring true value to everyone including Creators, Publishers, Record Labels, Distributors and CMOs. I am proud to be working with Jörg and his incredible team. We are here to help our industry today and indeed further enhance the value for the future.”

Last month, Utopia Music acquired Lyric Financial, the Tennessee-based industry-leading Music financial services company, which was founded in 2007 by Eli Ball. Since, it has disbursed more than $100 million in accelerated royalties, helping Creators worldwide. This acquisition paved the way for Utopia to become the de-facto global Music Industry growth partner. Its technology powers Music Tech platforms by enabling automated decision-making granting Creators immediate royalty payouts in the form of credit, and helping them finance future projects.