SoundExchange Pays Out Record $88 Million
In it's largest distribution to date, SoundExchange announced that it sent checks totalling nearly $88 million to more than 18,300 payees during the third quarter of 2011. Total distributions made by SoundExchange in 2010 were $249.2 million, up from $155.5 million in 2009.
The funds are statutory performance royalties paid to recording artists and recording copyright owners by internet radio, satellite radio and cable TV music-only channels. The announcement comes just days after global research publication Music & Copyright reported that SoundExchange is the “global leader” in the collection and distribution of sound recording performance royalties.