January 22, 2024 – We are happy to report that SoundExchange paid out $250M in royalties in the fourth quarter of 2023, bringing total gross distributions in 2023 to more than $1B, an increase of 4.3% above 2022 distributions of $959M.
SoundExchange’s previous reported distributions for Q1 were $229M, $269M for Q2, and $257M for Q3.
In 2023, SoundExchange celebrated its 20-year anniversary along with the milestone of passing the $10B mark in cumulative direct payments to music creators and rights holders with its 162nd distribution in March of that same year.
Since its inception in 2003, the organization has played a vital role in the growth of the digital music ecosystem, helping to ensure equitable compensation for recording artists and rights owners in the digital age. As the only organization designated by the U.S. government to administer the Section 114 sound recording license, SoundExchange collects and distributes non-interactive digital performance royalties to more than 650,000 music creators and rights owners.
From monthly distributions and mobile payment options to the lowest administrative fee in the industry and relentless advocacy on behalf of the creator community, SoundExchange continues to work to make the business of music easier, more transparent, and fairer for creators.