According to figures released yesterday (June 19) from SoundExchange‘s first Digital Radio Report, SoundExchange paid $162.4 million in royalties to artists and record labels in the first quarter of 2014. This marks SoundExchange’s largest Q1 payment to artists and labels to date, and a 38 percent increase from Q1 2013 to Q1 2014.
Other statistics shared within the Digital Radio report include:
- The U.S. recorded music industry earned a total revenue of $7 billion in 2013.
- SoundExchange accounts for 8.4 percent of the U.S. recorded music revenue, as well as 41.3 percent of total U.S. music streaming revenue in 2013.
- Twenty-eight percent of music revenues in 2013 came from streaming.
- SoundExchange claims 2,500 digital radio providers now use the statutory license that SoundExchange administers, up from 2,200 in 2012.
The Digital Radio Report will share payments statistics, as well as a quarterly state of digital radio streaming for artists and labels.
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