SoundExchange Announces $204.4 Million In Digital Royalties Paid Since Beginning Of 2012 To Artists And Labels
WASHINGTON, Aug. 23, 2012 /PRNewswire-USNewswire/ -- SoundExchange today announced it 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.
SoundExchange is the non-profit performance rights organization that helps the music and creative community thrive in the digital world. The organization collects and distributes performance royalties from non-interactive digital music services on behalf of recording artists and labels for the use of their sound recordings. To date, SoundExchange has paid more than $1 billion in royalties to the creators of music.
"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 Michael Huppe, president, SoundExchange. "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."SoundExchange represents tens of thousands of recording artists and record labels. The organization also works with more than 1,800 digital music platforms, both established and start-ups, which rely on SoundExchange for their digital sound recording licensing rights. About SoundExchangeSoundExchange is the non-profit performance rights organization that represents the entire recorded music industry. The organization collects statutory royalties from satellite radio, internet radio, cable TV music channels and other services that stream sound recordings. The Copyright Royalty Board, created by Congress, has entrusted SoundExchange as the only entity in the United States to collect and distribute these digital performance royalties for featured recording artists and master rights owners. SoundExchange has paid out more than $1 billion in royalties since its inception. For more information, visit www.SoundExchange.com or www.facebook.com/soundexchange. SOURCE SoundExchange
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