Last updated on April 20, 2014 at 8:28 EDT

SoundExchange Announces Second-Quarter 2013 Distribution of $149 Million Paid to Artists and Labels

July 9, 2013

Organization Also Announces Final 2012 Admin Rate of 4.9 Percent

WASHINGTON, July 9, 2013 /PRNewswire-USNewswire/ — SoundExchange today announced second-quarter 2013 payments of $149 million. This quarter marks the organization’s highest quarterly payment to recording artists and record labels to date with a 55 percent increase from the same quarter last year. In addition, the organization announced it achieved a final 2012 administrative rate of 4.9 percent – making the SoundExchange administrative rate one of the lowest in the world.

“SoundExchange’s most recent distribution is yet another positive indication of where the industry is heading. More importantly, our low 4.9 percent admin rate means more money in creators’ pockets, and is a testament to our careful stewardship over this sector of the industry,” said Michael Huppe, president and CEO, SoundExchange.

In total, SoundExchange has paid more than $1.5 billion to artists and labels. These royalties are paid by Internet radio, satellite radio and cable radio services for their performance of sound recordings, and are distributed by SoundExchange to recording artists and record labels. In addition, SoundExchange works with more than 2,000 digital music services that rely on the organization to administer the statutory license for the use of sound recordings.

SoundExchange is the non-profit performance rights organization that helps the music and creative community thrive in the digital world. Recording artists and record labels are encouraged to register with SoundExchange to receive their share of this growing digital music revenue stream. Those that also become a SoundExchange member can choose to have SoundExchange collect digital sound recording royalties on their behalf internationally.

About SoundExchange
SoundExchange is the non-profit performance rights organization representing the entire recorded music industry. The organization collects statutory royalties on behalf of recording artists and master rights owners for the use of their content from satellite radio, internet radio, cable TV music channels and other services that stream sound recordings. The Copyright Royalty Board, created by Congress, has entrusted SoundExchange as the only entity in the United States to collect and distribute these digital performance royalties from more than 2,000 services. SoundExchange has paid out more than $1.5 billion in royalties since its inception. For more information, visit www.SoundExchange.com or www.facebook.com/soundexchange.

SOURCE SoundExchange

Source: PR Newswire