SoundExchange Shows 74% Increase in Artist Payout From Q3 2013 to Q3 2014
UPDATED SoundExchange, the industry's self-proclaimed "people-powered radio" is putting up some impressive artist payout numbers in Q3 2014. Closing out the quarter at $267 million paid to artists, SoundExchange is boasting a 74% increase in artist payouts to last year's Q3 2013 payout of $153.7 million. As listeners turn more and more toward digital streaming for access to and discovery of new music, SoundExchange is experiencing exponential growth and has the numbers to prove it.
In Q3 2013, SoundExchange issues payouts to 25,836 payees. This year in Q3 2014 they've upped that number to 31,376 payees, showing a 21% increase. At the close of Q3 2014, SoundExchange's 2014 year-to-date total payout to $590.6 million – surpassing 2013's entire artist payout totalling $590.4 million.
