January 14, 2014
Let’s face it. No one likes to wait. Recognizing that sooner really is better, SoundExchange is pleased to announce it will begin offering monthly royalty payments to those artist and labels that are signed up to receive electronic payments beginning this month. Currently, the organization distributes royalties quarterly.
Initially, monthly royalty payments will be sent to those that are signed up to receive electronic payments, and have royalties due of at least $250. Artists and labels that do not meet this minimum threshold will continue to be paid on a regular, quarterly schedule under our existing guidelines. After the initial roll out period, SoundExchange will re-evaluate eligibility qualifications for our monthly payment program.
“While SoundExchange was already a market-leader with quarterly distributions, moving to monthly payments takes our service to the next level,” said SoundExchange President and CEO Michael Huppe. “By making performance royalties available sooner, we are making it easier for recording artists and record labels to focus on creating the music we all enjoy.”
SoundExchange is the first sound recording rights organization in the world to offer monthly distributions. Most sound recording performance organizations in other countries pay only annually.
Have questions? We are happy to provide you with any information regarding this new change. Please contact SoundExchange at accounts@SoundExchange.com or speak to a SoundExchange Representative at 1-800-961-2091.