SoundExchange 2010 Distributions Top $252 Million In Digital Royalties
March 18, 2011 at 4:03 AM (PT)
Royalty payments to artists and copyright holders from a variety of digital streaming services reached $252 million in 2010 according to SOUNDEXCHANGE. The year-end total surpasses any previous year's distribution, and brings SOUNDEXCHANGE's overall distributions during its first decade to more than $600 million.
"These revenues are an industry success story, hinging on the collaboration of artists, copyright holders, streaming services, and the committed SOUNDEXCHANGE team," said Pres. MICHAEL HUPPE. "This is part of the business equation that enables music creators to continue their extraordinary work, and when that happens, everyone wins."
Payments collected and distributed by SOUNDEXCHANGE have been rising steadily since it was first appointed as the sole entity in the UNITED STATES to administer streaming royalties on behalf of recording artists and copyright holders. SOUNDEXCHANGE receives playlist data provided by music services, collects corresponding royalty payments, and distributes those payments to registered artists and copyright holders.
The royalty pay-out increases reflect several trends -- the success and growth of streaming services; increased awareness among artists and copyright holders of the need to register with SOUNDEXCHANGE to claim royalty payments and improved processing of previously unpayable balances through data clean-up.
"The dramatic increase in these royalties over the last several years indicates not only improvements on the process side, but the rising popularity of these kinds of services in the UNITED STATES," said HUPPE. "Thanks to the innovative services offering access to music, people are consuming more music than ever before."