Photo Credit: RR Abrot
SoundExchange has announced it has surpassed $12 billion in distributions to artists and rights owners since 2003. The milestone comes less than a year after reaching the $11 billion mark in 2024—after the company’s 185th distribution.
In Q4 2024, SoundExchange distributed $248.6 million to creators, bringing the company’s full-year gross distributions to $1.05 billion total. That’s an increase of 4.9% over 2023.
“This milestone is a reflection of our vigorous commitment to amplifying the value of music, paired with a healthy and growing digital music ecosystem,” says SoundExchange CEO & President, Michael Huppe. “There is nothing more satisfying than putting money into the hands of those who have earned it with their talent, artistry, and passion. It’s our reason for being and it’s our privilege and honor to reliably serve the SoundExchange creator community.”
SoundExchange US-Based Non-Interactive Recorded Music Royalty
Payments, 2004-2024 (Source: SoundExchange Data)
In administering non-interactive digital streaming services, SoundExchange enables digital service providers (DSPs) to meet their obligations to artists and rights owners under current U.S. law. Serving a community of more than 700,000 registered creators, the non-profit company is the global gold standard for the collection and distribution of royalties. SoundExchange pays out monthly with more than 90% of all collections distributed within 45 days of receipt.
SoundExchange works nearly 60 international partners covering 87% of the available neighboring rights market to collect performance royalties for more than 474,000 creators when their music is played overseas. The organization advocates on behalf of creators through the U.S. Copyright Royalty Board over the last two decades to increase the value of music, achieving substantial increases—711% for satellite royalties, 294% for subscription royalties, and 215% for non-subscription royalties.
SoundExchange is the only organization designated by the U.S. government to administer the Section 114 sound recording license. In that regard, SoundExchange collects and distributes digital performance royalties on behalf of 700,000 music creators and growing. SoundExchange has paid more than $12 billion in distributions to date.
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This post was originally authored and published by Ashley King Digital Music News via RSS Feed. Join today to get your news feed on Nationwide Report®.
