Washington, DC – Crossing a key milestone, DC-based SoundExchange, the non-profit organization that collects royalties for musicians from satellite radio firms, Internet radio services and cable music channels, said on Monday it has now paid $1 billion in digital royalty payments to recording artists and record labels since its inception.
The organization also said it doled out $108.6 million during the first quarter, marking the first time it has surpassed the $100 million mark in a quarter.
“This milestone reflects the fact that the digital music industry is evolving and will continue to grow,” said Michael Huppe, the president of SoundExchange. “We’re optimistic about where the music industry is headed.”
To help mark this milestone, SoundExchange is asking all artists and labels to share videos on its Facebook and YouTube pages to promote continued support for digital royalty payments and to raise awareness of SoundExchange among creators.
A version of this article was also published in Potomac Tech Wire.
SoundExchange – official site
SoundExchange – press release
SoundExchange – Facebook page