SoundExchange says it distributed some $773 million in streaming royalty payments to recording artists and record labels in 2014.
That’s up 31% from $590 million the previous year.
SoundExchange collects royalties on behalf of recording artists and master rights owners for the use of their content on satellite radio, Internet radio, cable and TV music channels and other services that stream sound recordings.
SoundExchange President/CEO Michael Huppe called 2014 a banner year for the organization, noting that artists and labels receive their payments faster as the organization instituted monthly delivery. Huppe’s current contract runs through 2018.
Created by Congress, the Copyright Royalty Board chose SoundExchange to collect and distribute digital performance royalties from some 2,500 services.