SoundExchange Wraps Record-Setting Year With $773 Million In Payments To Recording Artists And Record Labels
January 28, 2015 at 8:30 AM (PT)
SOUNDEXCHANGE has released record total year-end royalty payments reaching approximately $773 million (up 31% from $590 million the prior year). The fourth quarter 2014 distribution also increased from the previous year with more than 38,800 payments totaling approximately $183 million. In addition to breaking records with its payments, SOUNDEXCHANGE also moved the industry forward in 2014 in many other important respects.
"2014 was a banner year for SOUNDEXCHANGE. Not only did we pay out more royalties to recording artists and record labels, but they now receive payments faster than ever after we became the first sound recording performance rights organization in the world to deliver monthly payments," said SOUNDEXCHANGE Pres./CEO MICHAEL HUPPE. "While 2014 finished on a high note, we look forward to continuing our success and growth in 2015 which promises to be even more exciting."
SOUNDEXCHANGE royalties are paid by more than 2,500 non-interactive Internet radio, satellite radio and cable radio services for their use of sound recordings.