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SoundExchange Pays out Record $88 Million
In it's largest distribution to date, SoundExchange announced that it sent checks totalling nearly $88 million to more than 18,300 payees during the third quarter of 2011. Total distributions made by SoundExchange in 2010 were $249.2 million, up from $155.5 million in 2009.
The funds are statutory performance royalties paid to recording artists and recording copyright owners by internet radio, satellite radio and cable TV music-only channels. The announcement comes just days after global research publication Music & Copyright reported that SoundExchange is the “global leader" in the collection and distribution of sound recording performance royalties.
The funds are statutory performance royalties paid to recording artists and recording copyright owners by internet radio, satellite radio and cable TV music-only channels. The announcement comes just days after global research publication Music & Copyright reported that SoundExchange is the “global leader" in the collection and distribution of sound recording performance royalties.
