Jun 11, 2018
WASHINGTON, DC – June 11, 2018 – SoundExchange and SiriusXM have settled their litigation surrounding outstanding claims from January 2007 through December 2017 in exchange for a lump sum payment of $150 million. Commenting on the settlement, SoundExchange President and CEO Michael Huppe said:
“We are happy to resolve this case with SiriusXM. The settlement allows us to distribute additional royalties to SoundExchange’s artists and rights owners while avoiding additional costly litigation.”
SoundExchange will distribute the settlement funds to the rights owners and artists whose sound recordings were used during the settlement period.