Digital royalty collector and distributor SoundExchange says it exceeded last year’s payout by 31%, and payments were also up YOY in the fourth quarter.
The $773M in distributions eclipsed 2013’s total of $590M. $183M of the disbursement occurred in the fourth quarter, during which 38.8K payments went out.
“2014 was a banner year for SoundExchange. Not only did we pay out more royalties to recording artists and record labels, but they now receive payments faster than ever after we became the first sound recording performance rights organization in the world to deliver monthly payments,” said SoundExchange President and CEO Michael Huppe. “While 2014 finished on a high note, we look forward to continuing our success and growth in 2015 which promises to be even more exciting.”
The entity stated, “SoundExchange royalties are paid by more than 2,500 non-interactive Internet radio, satellite radio and cable radio services for their use of sound recordings.”
It has launched a campaign along the lines of Turtles frontmen Flo and Eddie called Project 72, which seeks fair compensation for music recorded before 1972.
It is also continuing its outreach program to locate musicians eligible for royalty payments but whose residence is unknown.
SoundExchange also represents the recording industry before the Copyright Royalty Board, helping to set the royalty rates charged to digital audio platforms.
