SoundExchange Tuesday announced that royalty distributions in 2016 hit a new high. Year-end royalty payments reached approximately $884 million, an increase of more than $80 million versus 2015.
SoundExchange manages royalties for more than 130,000 recording artists and rights owners. More than 2,800 non-interactive Internet radio, satellite radio and cable television services pay digital performance royalties to music creators through the company. In addition to a record year for distributions, SoundExchange reached many other important milestones in 2016 including:
- Bestowing our SoundExchange Digital Radio Award, celebrating more than 1 billion plays on digital radio, to country music star Garth Brooks, Latin recording artist Pitbull and contemporary Christian recording artist Chris Tomlin.
- Implementing a new end-to-end business platform to manage rights, repertoire and royalties
- Managing and distributing artist royalties from record label direct deals with Pandora
- Launching a new Spanish-language registration module to service our Latin artists and labels
- Launching the industry’s first public International Standard Recording Code (ISRC) database in cooperation with IFPI, providing instant access to information about 30 million sound recording.