SoundExchange Has Paid Out $204.4 Million Since Beginning Of 2012
August 23, 2012 at 7:40 AM (PT)
SOUNDEXCHANGE has distributed $204.4 million in digital royalty payments to recording artists and record labels in the first two quarters of 2012. In its second quarter, SOUNDEXCHANGE distributed $95.8 million, the second-highest quarterly distribution in the organization's 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 SOUNDEXCHANGE Pres. MICHAEL HUPPE. "SOUNDEXCHANGE is proud to be part of this growing revenue stream for the creators of music. We will continue to pursue all efforts to ensure that artist and labels are properly compensated for their critical contributions to these services."