MUMBAI: SoundExchange, a non-profit entity that collects royalties for musicians from satellite radio firms, Internet radio services and cable music channels in US announced that it made a distribution of $89.5 million in the fourth quarter. The organization made royalty payments to $292 million during 2011, up 17 percent from the prior year.
This brings total royalties distributed since the organization’s inception to more than $900 million, states the company.
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 artistes, record labels, and a non-featured artiste fund. The organization’s ever increasing royalty payments are proof positive that digital performances continue to grow at a rapid clip.
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SoundExchange president Michael Huppe said, “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. 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.”
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.
