SoundExchange, the non-profit digital performance rights organization that collects and distributes performance royalties from non-interactive digital music services on behalf of recording artists and labels, reached a major milestone of $1 billion in digital royalty payments to recording artists and record labels since its inception.
SoundExchange collects these royalties for satellite radio, internet radio, cable radio and similar services for the use of the sound recordings on these platforms.
In Q1, the organization distributed $108.6 million total royalties. This marks the first time SoundExchange distributions have exceeded $100 million in a given quarter, and is the result of increased collections, enhanced data management and improved technology platforms.
SoundExchange represents both signed and unsigned recording artists as well as small, medium and large record companies (both indies and majors), which participate in this growing royalty stream.
To celebrate the milestone, SoundExchange is asking artists and labels from every generation and genre to mark this billion dollar achievement. Artists like Jennifer Paige are asked to share their videos on SoundExchange’s YouTube page in an effort to encourage $1 billion more and continued support for digital royalty payments.
