The creator economy is misunderstood by traditional financing. Today, creators are small businesses. BoothLenders will focus on the music industry creators: musician, songwriter, producer, studio, engineer, videographer, etc. All of these are small businesses. Music industry creators all need a lot of different things. What they need the most is financing. Credit Cards, Personal Loans, Business Loans, Refinancing. And the next great musicians need venture capital,” says Parker.
Parker started the fintech online lender to bring finance to an underserved market. And now, BoothLenders is taking the next steps to provide music industry creators with business loans, credit cards, venture capital, and more.
“Back when I was doing private equity deals with recording studios we did a survey. And we asked the studio owners and the studio users if they needed financing for their projects. And the response was overwhelming. That’s when I decided to start BoothLenders,” says Parker.
Parker started BoothLenders as a test model to prove a global need existed and partnered with over 300 lenders across the globe to finance small music businesses. “The lenders I worked with, and the people I met were awesome. But the loan products were not a perfect match for most music industry creators. Cookie-cutter products will not work in this industry. Music industry creators want a career partner,” says DJ Parker.
Music industry creators are the fastest-growing segment in the music industry, and grew the most during the 2020 pandemic, according to MIDiA and RIAA reports. Parker estimates there is a 2 trillion dollar global market opportunity to finance music industry creators, with over 50 million music industry creators worldwide.
Parker, now living in Calabasas, is from Kinston, North Carolina. And comes from a music industry family. His Uncles, Melvin and Maceo Parker both played with James Brown and others. And his 1st cousin, Kellindo Parker is the lead guitarist for Janelle Monae.
Parker knows all about the music industry and all of the challenges music industry creators face.
“Technology has changed everything. And so it’s time to create a new reality. We believe in the talent and visions of the music industry creators worldwide, and the growth and progression of the independent music industry at large” – DJ Parker – Founder & CEO @ BoothLenders
Los Angeles, California, USA
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The Creator Economy is Misunderstood