We’re stepping into 2025, and it’s a remarkable time to reflect on SoundExchange’s significant milestones. Celebrating over a decade since achieving the $3 billion mark in digital royalties paid directly to and labels, SoundExchange has continued to evolve and adapt in an ever-changing digital music landscape. As a wholly independent non-profit since 2003, SoundExchange has demonstrated its commitment to the growth of the digital radio space, playing a crucial role in the music revenue ecosystem. This post will delve into how the organization has continued to advocate for fair payment for and labels, its significant achievements, and its vision for the future of the music industry.
SoundExchange’s Significant Milestone
In a monumental announcement in August 2015, SoundExchange proclaimed that it had paid more than $3 billion in digital royalties to and record labels since its establishment. This achievement underscored the explosive growth of digital radio and its importance in the music revenue ecosystem.
The Role of SoundExchange
As the financial backbone of the digital music space, SoundExchange directly pays artists and labels on a monthly basis. “Three billion dollars in distributions marks a phenomenal milestone not just for SoundExchange, but for the entire music industry,” said SoundExchange President and CEO Michael Huppe.
Advocacy for Fair Payment
SoundExchange continues to champion for every and label to be paid fairly all platforms. It is a critical issue as there are platforms that do not pay for the music they utilize, even though they are building billion-dollar empires.
Remarkable Achievements
In 2014, SoundExchange paid out $773 million directly to over 100,000 recording artists and record label accounts, accounting for about 16 percent of the total revenues for the entire U.S. recorded music industry.
Continued Investment and Innovation
A2IM’s acting president, Molly Neuman, commended SoundExchange’s persistent investment in technology and systems, which has reinforced their leadership in efficiency and transparency. Over the past decade, SoundExchange has consistently delivered more innovation than at any other point in the organization’s history, cementing its position as a trusted and reliable entity in the music industry.
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