SoundExchange announced it has distributed $204.4 million in digital royalty payments to recording artists and record labels in the first two quarters of 2012. In its second quarter, SoundExchange distributed $95.8 million, the second highest quarterly distribution in the organization's history.
SoundExchange is the non-profit performance rights organization that helps the music and creative community thrive in the digital world. The organization collects and distributes performance royalties from non-interactive digital music services on behalf of recording artists and labels for the use of their sound recordings. To date, SoundExchange has paid more than $1 billion in royalties to the creators of music.
"This quarter's distribution adds to what is shaping up to be a record breaking year for SoundExchange and reflects the continued growth of digital radio listenership and services," said Michael Huppe, president, SoundExchange. "SoundExchange is proud to be part of this growing revenue stream for the creators of music. We will continue to pursue all efforts to ensure that artist and labels are properly compensated for their critical contributions to these services."
