US efficiency rights group SoundExchange distributed USD $269 million in digital royalties to creators within the second quarter of 2023.
The distribution marked a 17% YoY enhance from the identical interval final yr, SoundExchange mentioned in a press launch.
SoundExchange, the only real entity licensed by the US authorities to supervise the Section 114 sound recording license, is chargeable for the gathering and equitable distribution of non-interactive digital efficiency royalties to musicians and rights proprietors.
Since its institution in 2003, SoundExchange says it has disbursed over $10 billion on to a world group of greater than 650,000 music creators.
In addition to financial distributions, SoundExchange additionally affords a collection of providers geared toward streamlining the music business.
These providers embrace common month-to-month distributions, versatile cell cost choices, and an administrative price which it describes as “the lowest” within the business.
In 2022, the group collected $1.017 billion in digital royalties from over 3,600 streaming platforms on behalf of round 600,000 artists like Ludacris and Billie Eilish.
“In doing so, the company crossed the $9 billion threshold for distributing royalty payments since its inception in 2003,” President and CEO At the time, Huppe attributed the rise to the resurgence of dwell music final yr, and to the group’s efforts in advancing equity for creators within the US Congress.
Elsewhere, final month, SoundExchange filed a lawsuit in opposition to US satellite tv for pc radio service The focus of the lawsuit revolves round SiriusXM’s on-line streaming service. SoundExchange contends that SiriusXM has disproportionately allotted a considerable portion of its income in direction of its streaming service, somewhat than its satellite tv for pc radio service.
SiriusXM has since responded to the allegations, saying it was “surprised” and “disappointed” by the lawsuit, arguing that its methodology of calculating the royalties it owes is “rigorous, tested and fair.”
Last yr, SoundExchange emerged victorious in its authorized battle in opposition to Slacker, Inc. and its mum or dad firm, LiveOne, within the US District Court for the Central District of California. The lawsuit was filed by SoundExchange looking for redress for unpaid royalties owed to creators and rights holders.
As a results of the courtroom’s ruling in October 2022, Slacker and LiveOne have been ordered to pay $9.7 million in beforehand unpaid royalties to performers and rights homeowners.
Data from the RIAA on Monday (September 18) confirmed that digital and customised radio music revenues within the US, together with SoundExchange distributions, grew 16% to $657 million within the first half. This class additionally contains revenues from providers like SiriusXM and web radio stations.
Music Business Worldwide