SoundExchange says it has now paid out $3 billion — and counting — in digital royalties since 2003.
It wants artists and labels to use their social media accounts to emphasize that point using hashtag #3BillionPaid.
The organization collects and distributes digital performance royalties from approximately 2,500 services. It called reaching the $3 billion mark a “monumental achievement [that] signifies the explosive growth of the digital radio space and the crucial role digital radio plays in the music revenue ecosystem.”
It said it paid $773 million last year to 100,000 artists and record label accounts. “Those 2014 payments represented approximately 16 percent of total revenues for the entire U.S. recorded music industry.” The organization also said it had invested in infrastructure to “efficiently and transparently pay out royalties at the lowest administrative rate in the industry.”
SoundExchange collects royalties for recording artists and rights owners for use of their content on satellite radio, Internet radio, cable TV music channels and other services that stream recordings. President/CEO Michael Huppe made the announcement.
