August 5, 2015
SoundExchange is happy to announce it has paid over $3 billion in digital royalties to recording artists and record labels since its inception more than a decade ago. To give you an idea of just how much money this is, consider the following:
If you laid three billion dollars in bills end-to-end around the circumference of the Earth, you could wrap the globe more than 11 and a half times before running out of bills.
Or, since we are in Washington, D.C., let’s put it in terms of one of the city’s most recognizable structures: the Washington Monument. If you stacked three billion one dollar bills on top of one another, you would have more than 1,900 Washington Monument sized stacks before you ran out of bills.
“Three billion dollars in payments marks a phenomenal milestone not just for SoundExchange, but for the entire music industry,” said SoundExchange President and CEO Michael Huppe. While we celebrate this great achievement today, SoundExchange will continue to work towards building a more transparent future for the modern music business and will continue to advocate for every artist and label to be paid fairly whenever their music is used.”
But it’s important to remember, this is only the beginning. SoundExchange is proud to work and deliver the next billion to our more than 100,000 registered artist and label accounts so that they can focus on making the creative work we all know and love.
Join us in celebrating by tweeting or mentioning @SoundExchange using hashtags #3BillionPaid and #SXcelebration. We want to hear how your royalties have helped you in your career!