CD Baby Tops $300 Million in Artist Payouts
October 9, 2013 at 6:33 AM (PT)
Since its inception in 1997, online music store CD BABY has paid out $300 million to artists using its services, and this year, the company says it expects its total payout to artists at more than $60 million, up from last year's $56 million.
"It took us eight years to pay out the first $50 million," CD BABY CEO TRACY MADDUX said. "But now our artists are earning at least $50 million per year and this year we expect to beat $60 million."
The company represents over 325,000 artists, including former major label artists, indie artists, and part-time professionals. The CD BABY catalog includes almost 5 million tracks and makes up approximately 17 percent of the tracks available through iTUNES.