David Boxenbaum Joins Music Financing Leader Lyric Financial as Senior Advisor
Lyric Financial, the leader in artist financing, has tapped experienced business advisor and music professional David Boxenbaum to join its teams as Senior Advisor. Boxenbaum will support Lyric Financial’s efforts to bring more financial resources to more creators across music, entertainment, and media. Boxenbaum’s past achievements include co-founding Octone Records, which he sold to Universal Music Group, and helping Japan’s largest music company Avex launch internationally.
Long a sought-after advisor and board member in the media and music industries, Boxenbaum was helping a client conduct some research into Lyric Financial. He was so intrigued by what he learned that he agreed to join as an advisor to the company. He recognized that Lyric Financial’s offerings were the missing piece in the digital models allowing artists and songwriters to have truly independent careers with or without participating in the traditional label/publisher system.
“The digital transformation of the music business solved production, so that artists didn’t need to rent a studio. It solved distribution, and it gave artists unprecedented access to platforms that can help them market. Finance remained a challenge, however, even for artists with income,” explains Boxenbaum. “Traditionally you have only a handful of sources for money, such as major rights holders, reluctant banks, expensive credit cards, or friends and family. None of them are ideal.”
By solving for artists’ needs and providing sustainable financing, Lyric Financial bridged that gap. “I’ve always been interested in how technology can democratize the business, enabling smaller creators to develop and giving larger creators options,” Boxenbaum says. “Thanks to its vATM product, Lyric Financial could enable advances at scale. It’s the final link in democratization and monetization.”
“We’re honored to have someone with the experience and savvy that David has on our team,” notes Lyric Financial CEO Eli Ball. “He gets it, and he gets why it matters to artists.”
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