SoundExchange Ends Year With $89.5 Million In Q4 2011 Distributions
January 17, 2012 at 8:05 AM (PT)
SOUNDEXCHANGE has announced a fourth-quarter 2011 distribution of $89.5 million with more than 18,000 payments, bringing year-end estimated royalty payments to $292 million (up 17% from the prior year). SOUNDEXCHANGE's distributions continue to grow each quarter, with the most recent being its largest to date. This brings total royalties distributed since the organization's inception to more than $900 million.
The royalties are paid by Internet radio, satellite radio and cable TV music-only channels for their use of sound recordings, and are distributed by SOUNDEXCHANGE to recording artists, record labels, and a non-featured artist fund. The organization's ever increasing royalty payments are proof positive that digital performances continue to grow at a rapid clip.
"Our growth is encouraging news for the industry, and for the performers who put their heart and soul into the music we enjoy every day," said SOUNDEXCHANGE Pres. MICHAEL HUPPE. "This past year, we've taken stock of our strengths, and the challenges and opportunities ahead, and have looked for even more ways to improve how we serve the music community. We're optimistic about the industry's future, and about the tremendous value SOUNDEXCHANGE promises to deliver in the years to come."