SoundExchange Payments Soar in 2012

SoundExchange has distributed $204.4 million in digital royalty payments to recording artists and record labels in the first two quarters of 2012. During Q2, the organization paid out $95.8 million, the second highest quarterly distribution in its history.

“This quarter’s distribution adds to what is shaping up to be a record breaking year for SoundExchange and reflects the continued growth of digital radio listenership and services,” said Michael Huppe, president, SoundExchange. “SoundExchange is proud to be part of this growing revenue stream for the creators of music.”

SoundExchange is the non-profit performance rights organization that helps the music and creative community thrive in the digital world. The organization collects and distributes performance royalties from non-interactive digital music services on behalf of recording artists and labels for the use of their sound recordings. To date, SoundExchange has paid more than $1 billion in royalties to the creators of music.

The organization works with more than 1,800 digital music platforms, both established and start-ups, which rely on SoundExchange for their digital sound recording licensing rights.

Comments

comments

Powered by Facebook Comments

Category: Featured, Financial/Legal, Organizations