SoundExchange has a new method of presenting their quarterly payments and they will be sharing their highlights quarterly via a new Digital Radio Report. The hope is to expand the information they share each quarter making this report a vital resource for anyone looking to learn more about SoundExchange and the role they play in the music industry.
In the first three months of 2014, SoundExchange paid $162.4 million in royalties to recording artists and record labels, including spoken-word actors and comedians. To date, they have paid out more than $2 billion in royalties. SoundExchange payments come from both subscription and ad-supported non-interactive streaming services.
Check out the SoundExchange Digital Radio Report highlighting their Q1 2014 numbers and the state of digital radio streaming for artists and labels.
Below is a full breakdown of our facts and figures:
· $162.4 million – paid to recording artists and record labels in Q1 2014. SoundExchange’s largest Q1 payment to date
· $7 billion – total U.S. recorded music industry revenue in 2013
· 8.4% – SoundExchange portion of U.S. recorded music revenue
· 41.3 % – SoundExchange percentage of total U.S. music streaming revenue in 2013
· 38% – SoundExchange payment increase from Q1 2013 to Q1 2014
· 21% – percentage of music revenue from streaming in 2013
· $2 billion – total royalties paid since inception
· 2,500 – number of digital radio providers now using the statutory license that SoundExchange administers (up from 2,200 in 2012)