March 18, 2020
Dear SoundExchange Family,
I’m reaching out to share some thoughts on the tragedy gripping our world, and how SoundExchange is reacting.
Like you, I’ve been glued to the news to better understand the impact of the spread of coronavirus, which in such a short time has completely altered our reality. And, like you, I am concerned for my family, my friends, and the impact this outbreak will have on our industry and on the world. Many industries will be hit hard by this pandemic, and I know you are among the people who will feel its impact the most.
Sir Elton John said that “music has healing power. It has the ability to take people out of themselves for a few hours.” It’s the music that you create which helps me and billions of people across the world find the solace we need, particularly in times like these.
And yet, despite so many people turning to your music for help, the widespread cancellation of festivals, tours, concerts and even large gatherings is an economic weight that may feel devastating.
I want you to know that SoundExchange is doing everything within our power to ensure that your royalty payments are not interrupted. We will run our regular monthly March distribution next week – as scheduled, and all payments should be out the door by the end of the month. And we expect our monthly payments to continue unabated.
We initiated steps last month to prepare operationally for this emergency. And last week, in order to continue providing you with excellent service and to protect the health and safety of our employees, we announced a mandatory work from home policy for 100% of our workforce. We are doing this to help “flatten the curve.” We also are doing this to reduce our employees’ exposure to the coronavirus, ensuring that we can continue to support music creators like you with regular royalty payments.
Please know that we will continue to do everything within our power to ease your financial concerns during this national emergency and are considering other creative ways that we might help. We will continue to provide you with updates via email or through our SoundExchange Direct platform.
Here’s to getting through this safely and together, and to emerging on the other side as a stronger community.
President & CEO