SoundExchange Contributes to Music Industry Growth with Highest-Ever Quarterly Distribution
WASHINGTON, D.C. (MuseWire) – SoundExchange announced on Tuesday that it has distributed nearly $88 million to more than 18,300 payees designated by recording artists and labels during the third quarter of 2011. SoundExchange is the non-profit performance rights organization (PRO) that was appointed by the Copyright Royalty Board to collect and distribute statutory performance royalties owed to recording artists and sound recording copyright owners. The quarterly distribution, SoundExchange’s largest to date, includes royalties paid by Internet radio, satellite radio and cable TV music-only channels.
The announcement comes days after global research publication Music & Copyright reported that SoundExchange is the “global leader” in the collection and distribution of sound recording performance royalties. Total distributions made by SoundExchange in 2010 were $249.2 million, up from $155.5 million in 2009.
“We’ve processed an unprecedented amount of digital performance data this quarter, which is proof positive that consumers are listening, purchasing and enjoying music in more ways than ever,” said SoundExchange President Michael Huppe. “These payments are the result of billions of digital performances by thousands of music services every month. It is our responsibility to ensure that this upsurge of digital performances can be converted into a reliable revenue stream for those who created the music.”
SoundExchange’s continued investment in world-class technical expertise has been critical in ramping up the organization’s ability to ingest and process high volumes of data. In addition to the accomplishments of the SoundExchange staff, the distribution was aided by the help of the very artists and labels who are receiving these payments. SoundExchange’s claims processing program permits copyright owners to claim tracks that have been reported without sufficient data. Through the claims program, artists and labels help SoundExchange as well as themselves by ensuring the organization has accurate metadata for recordings. Fully $15 million of the quarter’s payouts were the result of claims and adjustments.
Artists and copyright owners are encouraged to learn more and register to receive royalties for their work at www.soundexchange.com.
SoundExchange is the non-profit performance rights organization that 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 $800 million in royalties. For more information, visit www.SoundExchange.com.