SoundExchange says it’s distributed north of $10 billion since debuting as a standalone group in 2003.
The Washington, D.C.-based entity, which collects royalties from non-interactive digital music platforms like SiriusXM, only recently unveiled the distribution benchmark. Based on SoundExchange – which stated in late March of 2022 that it had paid out a complete of $9 billion – the $10 billion milestone arrived with its 162nd distribution two months again.
“Crossing the $10 billion threshold and celebrating our twentieth anniversary show our dedication to serving the complete music business,” greater than 12-year SoundExchange president and CEO Michael Huppe stated of the cumulative payout determine.
“Over the previous 20 years, we’ve grown into a world music tech group distributing round $1 billion yearly to a creator group of greater than 650,000,” completed the previous RIAA exec. “I’m extremely happy with our accomplishments and the staff we’ve constructed and sit up for continued innovation that can energy the music business for a few years to come back.”
Contrasting the bare-bones announcement messages that it sometimes places out when disclosing distribution totals, SoundExchange used a paragraph to elucidate that Huppe is ready to simply accept an inaugural Music Enterprise Affiliation “Influence Award for Technological Excellence” on its behalf at this time, as a part of Music Biz 2023.
Moreover, The Roots’ Black Thought and Questlove (who’s been tapped to direct a live-action reimagining of The Aristocats for Disney) in remarks of their very own went forward and touted SoundExchange as “an important companion within the success of the music business.”
“Their unwavering dedication to innovation, equity, and transparency units them aside from the remaining,” the 2 gushed partially. “With SoundExchange, I do know that my exhausting work as an artist is being acknowledged and rewarded and that my rights are being fiercely protected. Their dedication to the well-being of creators is actually unparalleled, and I’m proud to be part of a group that advantages from their unbelievable work.”
In the meantime, Train lead singer Pat Monahan additionally heaped reward upon the “game-changer” SoundExchange, which in response to the “Hey, Soul Sister” songwriter “sticks up for artists and makes a minimum of one a part of this business simpler to navigate.”
SoundExchange beforehand indicated that it had distributed $255.6 million throughout 2022’s ultimate quarter – up 2.5 % from the identical three-month stretch in 2021. And in April, the Human Artistry Marketing campaign founding member revealed a “knowledge partnership” with France’s Music Story, which has been billed as “a world chief in music metadata.”