SoundExchange Reaches $11 Billion In Royalty Distribution
Music tech organization SoundExchange has distributed $11 billion in digital performance royalties since its inception in 2003. The company reached the milestone this month while making its 174th distribution of payments to creators and rights holders.
“We continue to be driven every day by the guiding principle of putting more money into the hands of creators and rights holders,” says Michael Huppe, President and CEO of SoundExchange. “The continuing growth in royalty distributions to a billion dollars a year is reflective of a healthy digital music ecosystem, but it’s not something we take for granted. Our dedication to the community of creators we serve is unshakable, and we will continue to advocate tirelessly for artists to receive fair and equitable compensation for the use of their work on all platforms.”
SoundExchange enables digital service providers to meet their obligations and advocates to ensure creators are properly compensated for their work in the digital age of music. They frequently represent creators in front of the U.S. Copyright Royalty Board and have gained increases of 711% for satellite royalties, 294% for subscription royalties and 215% for non-subscription royalties since their start.
The company also leads the push for the American Music Fairness Act in front of Congress. The legislation ends the practice of not paying performers when their music is played on broadcast radio. SoundExchange is also a contributor to ongoing discussions lawmakers are having around artificial intelligence and how it could affect creators.
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