Royalties for the performance of music over digital platforms have accumulated under the auspices of collection/distribution agency SoundExchange to a pool of over $1M, due to the failure of hundreds of qualified recipients to register to collect their share. Licensing and royalty service provider RightsFlow is helping to track them down.
A matching effort in which RightsFlow compared its own resources to SoundExchange’s list of the unregistered yielded 1,675 artists representing 63 labels.
According to RightsFlow, it utilized its “enterprise database as well as via users of Limelight, the company’s online mechanical licensing utility…” to come up with the list.
“We’re grateful to be able to work with exceptional partners like RightsFlow, who share our commitment to ensuring that creators are compensated for their work,” said John Simson, Executive Director of SoundExchange. “We appreciate their efforts in reaching out to notify artists about their unclaimed royalties. RightsFlow understands the value of our work and has existing relationships with those artists and labels who can most benefit from registering with SoundExchange.”
RightsFlow’s Chief Strategy Officer/CFO Ben Cockerham added, “At the core of our DNA, RightsFlow exists to serve musicians and labels. We believe in building technology that drives efficient and accurate licensing transactions and revenue growth. We’re extremely pleased to work with our esteemed partners at SoundExchange to help deliver digital performance royalty revenues to our artist and label clients.”
SoundExchange says it has collected and paid out more than $412M in royalties, but still has millions of unclaimed dollars.