SoundExchange hit $7 billion in payouts to artists
SoundExchange, responsible for handling royalties for services such as Pandora, SiriusXM and TV appearances, hit a new milestone earlier this year.
Last week SoundExchange shared some details regarding their Q1 2020 performance.
- $7bn paid to artists since launching in 2003
- $224 million in Q1 2020 alone
- $220.7 million in Q1 2019
- Up 1.5% year-on-year
- 200,000+ music creators
- 32 million registered sound recordings
SoundExchange remain committed to providing uninterrupted royalty payments through the COVID-19 pandemic. They manage payments from services such as non-interactive webcasters (Pandora), satellite/digital cable TV and satellite radio services (SiriusXM).
“SoundExchange has always been a critical source of revenue for music creators, and especially now. Our entire team is committed to providing reliable monthly payments, particularly at a time when the music community is confronting the challenges posed by COVID-19, and we are on track for our April distribution.”
Michael Huppe, President & CEO, SoundExchange
