SoundExchange distributed a record $153.7 million to labels and artists in Q3 2013 – a 25.5% increase year-on-year.
The figure was 74.7% up on the organisation’s $88 million Q3 2011 payment total and, as SoundExchange celebrates its 10th birthday this year, a whopping 5023.3% on top of the £3 million it distributed in 2003.
SoundExchange has delivered more than $1.5 billion in digital performance royalties during its time in operation.
“Music is more accessible now than ever before; today, a single sound recording can be streamed millions of times by listeners across the globe,” said SoundExchange president and CEO Michael Huppe.
“SoundExchange takes great pride in having helped enable the growth of the digital music industry, and we strive to ensure that all recording artists and labels are rewarded for their art. Over the last decade, we’ve grown as an organization, fought for what we believe in and persevered to become the company we are today. And we look forward to an even brighter future for the entire music industry.”
The PRO represents more than 90,000 artist accounts and 28,000 rights owner and label accounts. The company has released an infrographic summarising its decade in operation, which can be seen below: