SoundExchange Royalty Distribution Nearing $1 Billion

SoundExchange distributed $292 million in royalty payments last year, up 17 percent from the prior year. The royalties are paid by Internet radio, satellite radio and cable TV music-only channels for their use of sound recordings, and are distributed by SoundExchange to recording artists, record labels, and a non-featured artist fund.

This brings total royalties distributed since the organization’s inception to more than $900 million. Based on last year’s distribution, it is likely the organization will hit the $1 billion mark soon.

SoundExchange’s distributions continue to grow each quarter, with the most recent being its largest to date. Fourth quarter 2011 distribution totaled $89.5 million with more than 18,000 payments.

The PRO’s 2010 administration rate was 6.7 percent, and the organization is projecting its 2011 administration rate to be even lower.

Comments

Powered by Facebook Comments

Follow MusicRow on Twitter

Category: Featured, Financial/Legal, Publishing

About the Author

Sarah Skates has worked in the music business for more than a decade and is a longtime contributor to MusicRow.

View Author Profile