SOUNDEXCHANGE HITS $11B IN PAYOUTS

SoundExchange has reached a new cumulative distribution milestone of $11b in digital performance royalties since its inception in 2003.

SoundExchange achieved this milestone in March with its 174th distribution of payments to creators and rights holders. The achievement comes one year after the organization celebrated reaching the $10b cumulative digital royalties milestone—which coincided with SoundExchange’s 20th anniversary—and just two years after reaching the $9b mark.

“We continue to be driven every day by the guiding principle of putting more money into the hands of creators and rights holders,” SoundExchange President and CEO Michael Huppe said. “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.”