Jan 17, 2012
WASHINGTON – SoundExchange today announced a fourth quarter 2011 distribution of $89.5 million with more than 18,000 payments, bringing year-end estimated royalty payments to $292 million (up 17 percent from the prior year). SoundExchange’s distributions continue to grow each quarter, with the most recent being it’s largest to date. This brings total royalties distributed since the organization’s inception to more than $900 million.
The royalties are paid by Internet radio, satellite radio and cable TV music-only channels for their use of sound recordings, and are distributed by SoundExchange to recording artists, record labels, and a non-featured artist fund. The organization’s ever increasing royalty payments are proof positive that digital performances continue to grow at a rapid clip.
“Our growth is encouraging news for the industry, and for the performers who put their heart and soul into the music we enjoy every day,” said SoundExchange President Michael Huppe. “This past year, we’ve taken stock of our strengths, and the challenges and opportunities ahead, and have looked for even more ways to improve how we serve the music community. We’re optimistic about the industry’s future, and about the tremendous value SoundExchange promises to deliver in the years to come.”
Also in 2011, SoundExchange has made several significant organizational enhancements, including new appointments to its executive team; key hires to its technical team; and the establishment of new data and claims departments.
Other 2011 accomplishments:
• Conducted more than 80 database matches with a wide variety of partner organizations to reach and register artists and rights owners.
• Registered 15,300 new artists, labels and rights holders in 2011; up from nearly 12,000 in 2010.
• Expanded international reach, concluding several new reciprocal agreements to exchange royalties with foreign counterparts and enhancing the relationship with existing partners.
• Increased capacities for processing royalty data and payments through technical overhaul that will continue throughout 2012.
SoundExchange is the non-profit performance rights organization (PRO) appointed by the Copyright Royalty Board to collect and distribute statutory performance royalties owed to recording artists and sound recording copyright owners. Its 2010 administration rate was just 6.7 percent, and the organization is projecting its 2011 administration rate to be even lower.
Artists, labels and copyright owners are encouraged to learn more and register.