SoundExchange 2013 Total Distributions Reaching $590 Million
February 4, 2014 at 7:05 AM (PT)
SOUNDEXCHANGE, which celebrated its ten year anniversary in 2013, closed out the year paying $170.4 million to recording artists and record labels in the fourth quarter. Total year-end digital radio royalty payments reached an all-time high of approximately $590.4 million (up 28% from 2012).
"I'm pleased to report a strong finish to an amazing year for SOUNDEXCHANGE, and for digital radio. We processed tens of billions of digital performances in 2013 reported by thousands of music services every month. This is further proof that consumers are streaming digital radio now more than ever," said SOUNDEXCHANGE Pres./CEO MICHAEL HUPPE. "We are ensuring that digital radio listening is being converted into a reliable revenue stream for music creators. We look forward to continuing our mission to support, protect and propel the music industry forward in 2014."