Billboard reports: “For the past five years, SoundExchange has been one of the music industry’s few bright spots in a transitional and contracting market. In that time, the non-profit entity which collects and distributes digital royalties for labels and artists for non-interactive transmissions (i.e. Pandora, SiriusXM and others), saw its revenue collections explode 229 percent from $270 million in 2010 to $888 million in 2015. But according to sources with knowledge of the situation, a recent shift to direct licensing will likely lead to slower growth in 2016 and a precipitous drop next year as collections could decrease by about $200 million, according to Billboard estimates.”

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