Music-minded financial tech company, Utopia Music has acquired Nashville-based Lyric Financial, helping the company expand the reach of its services into the United States. The move also assists Utopia’s mission to build a platform that, “brings a completely new approach to serving all music industry needs and to enable accounting, transparency and efficiency, repairing the fragmented industry along the way.” Lyric will continue to serve its current client base as part of the acquisition.
“The acquisition of Lyric Financial represents yet another milestone on our journey of becoming the leading financial services provider and growth partner in music,” said Utopia Founder and Chairman, Mattias Hjelmstedt. “We are supercharging the entire music industry by creating new revenue streams, consolidating data, reducing administration costs, and offering a broad spectrum of diverse and deeply innovative services and effectively removing roadblocks and showstoppers that have slowed the industry down for too long.
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