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SoundExchange paid $953 mn to artists in 2018, most in the company’s history

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SoundExchange distributed $953 mn in sound recording performance royalties to recording artists and rights owners in 2018. This payout is more than any year in their 15-year history.

US firm SoundExchange has published its year-end numbers for 2018, and like other bodies collecting and distributing royalties for musicians and rightsholders, it appreciated this record year.

An official of SoundExchange said,

“We distributed more sound recording performance royalties to recording artists and rights owners than in any other year of our 15-year existence – a record $953 mn. We reached that historic milestone with a strong fourth quarter, distributing $345 mn in Q4 to music creators.”

That figure was up 46.2% on 2017 when the organization distributed $652 mn to its recorded music members.

The organization saw a very strong fourth quarter last year, distributing $345 mn to music creators – up by 115.7% on the same period in the prior year.

SoundExchange collects royalties from the likes of Sirius XM (which also enjoyed a record year in 2018) for its artist and label members, as well as from other non-interactive internet radio, satellite radio and cable television services.

In a note to members within its Q4 Digital Radio Report, SoundExchange President & CEO Michael Huppe said,

“We’ve achieved so much, but now we’re focused on 2019. As we look ahead, rest assured that we will continue to do all we can to make sure music creators get paid fairly and that the industry operates in the most efficient, transparent way possible.”

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SoundExchange also, unsurprisingly, flagged up the successful passage of the Music Modernization Act (MMA) as a key event in 2018 which is “A profound policy achievement that modernised US copyright laws”.

The MMA includes the Classics Act, which guarantees federal copyright protection for sound recordings recorded before 15 February 1972 and ensures that legacy artists receive compensation for their work.

 

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Abhishek Singh

Author: Abhishek Singh

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