US digital collection organisation SoundExchange has posted a 58% increase in royalty payments year-on-year in 2012.

SoundExchange paid a total of $462 million to performers and record companies last year.

The company announced that it had passed a landmark figure of $1 billion in royalties paid out since its founding in 2000.

The organisation specifically collects from digital services, most prominently internet and satellite radio in the US, suggesting that the mediums are on the rise as revenue streams for ...