SoundExchange Distributes $117.5 Million In Q1 2013
Despite growing efforts by Clear Channel and others to licence music directly, digital music performing rights organization SoundExchange had announced a first-quarter 2013 distribution of $117.5 million. It's their largest first quarter payment ever and 10% above Q1 2012 distribution.
Fourth quarter 2012 payments were $134.9 million – the largest quarterly
distribution in SoundExchange history.
SoundExchange distributed
$462 million to recording artists and labels in all of 2012. Since
inception, they've paid more than $1.5 billion in royalties from 2,000
digital music services.
"Our
first quarter numbers show that this digital radio revenue stream is continuing
to grow." said SoundExchange President, Michael Huppe . "We are
committed to making sure recording artists and record labels receive the compensation
they rightfully deserve, and we are proud to help facilitate this growth that
helps move the music and creative community forward."
