Musicnotes, Inc., the world’s leading digital sheet music retailer and publisher, announced it will soon hit $60 million in royalties paid to music publishers and songwriters since the launch of www.musicnotes.com in late 1999. The company approximates a distribution sum of $10 million in 2015 alone. The $60 million figure takes into account compensation related to all sheet music downloads at Musicnotes.com, as well as royalties related to the www.songsterr.com guitar tab business.
Musicnotes has a market-leading database that allows for efficient payment of royalties to music publishers worldwide. A full one-third of 2015 royalties will relate to non-US sales, said Musicnotes Executive Chairman Tim Reiland.
“We are transparent and pride ourselves on timely royalty payments,” Reiland said. “Our escrow account for accrued but unpaid royalties is well under 1%, a performance we are proud of and will stack up against anyone in the music business.”
Musicnotes has established and maintained a longstanding commitment to supporting songwriters and music publishers around the globe, guaranteeing prompt compensation to the creative forces behind its 300,000-plus digital sheet music offerings.
“Revenue from sheet music, tablature and lyrics is becoming increasingly important to songwriters and music publishers,” said National Music Publishers’ Association President and CEO David Israelite. “There is tremendous value in songs, and it is important these rights are protected and monetized to their full extent.”
The royalties announcement comes on the heels of the company’s celebration of its 5 millionth digital sheet music customer.
“We are pleased to reach these two major milestones,” said Kathleen Marsh, Musicnotes Co-Founder/CEO and President of the Music Publishers Association. “Our team is proud to spread the joy of music making worldwide while respecting copyright and rewarding songwriters and music creators.”