Performer royalty collector SoundExchange said its Q2 2013 distributions to artists for spins on internet, satellite and cable radio set a new record. It also said its 2012 administrative rate shows that the artists are getting maximum benefit from its service.
The service sent payments totaling $149M to eligible rights holders, a 55% increase over Q2 2012 distributions.
The administrative rate as of the end of 2012 was pegged at 4.9%, which the service says is one of the lowest on the globe – and indicates that artists are receiving better than 95% of the money it takes in.
“SoundExchange’s most recent distribution is yet another positive indication of where the industry is heading. More importantly, our low 4.9 percent admin rate means more money in creators’ pockets, and is a testament to our careful stewardship over this sector of the industry,” said Michael Huppe, president and CEO, SoundExchange.
To date, the service says its handed out more than $1.5B to artists and labels.