THENEWPRINT: SoundExchange Pays Out $122.5M In Q3
According to an article on Billboard, SoundExchange continues to set record highs in their royalty payouts, hitting $122.5 million to artists and labels in the 3rd quarter. That figure makes it the largest quarterly payout by the organization since its inception. For the year, the agency has paid out $326.9 million and an overall total of over $1B. Are you one of the 50,000 artists due royalties but still have not registered for Soundexchange? Here.
“This distribution represents yet another record-setting quarter for SoundExchange, but means so much for the recording artists and record labels that rely upon this growing revenue stream,” SoundExchange president Michael Huppe said in a statement. “Musicians and rights owners — both superstars and rising stars — have come to depend on these royalty payments. We are proud to help facilitate this growth and are passionate about our work in protecting this revenue stream, and moving the music and creative community forward.”
SoundExchange Announces $1 Billion Paid to Artists & Labels
“SoundExchange is proud of delivering one billion dollars to the creative community. This milestone reflects the fact that the digital music industry is evolving and will continue to grow,” said Michael Huppe, president, SoundExchange. “We’re optimistic about where the music industry is headed and see opportunity for SoundExchange to help both creators and digital music services thrive. We’re proud of this achievement and everything we’ve done to ensure that this money makes its way into the hands of artist and labels.”
In the first quarter of 2012, the organization distributed $108.6 million total royalties - the first time SoundExchange distributions have exceeded $100 million in a given quarter. These numbers continue to reflect the outstanding growth in the digital music industry and present a wake-up call to those artists who have yet to register and take advantage of the money available to them. Click here for more information on Soundexchange and how to register. — Image by Jeff Watkins.