6-17-2012
Ben Sisario of the New York Times writes that the nonprofit will announce today that in 2011 quarterly payments paid out to artists and record companies for streaming exceeds $100 million. And, that after starting up in 2000 total payouts have hit $1 Billion. Confirmation, for sure, that online audio listening continues to remain strong with consumers.
To show how much the money pot has swelled, back in 2004, SoundExchange only collected $15.6 million. But the news isn't all good for SoundExchange. Sisario writes that at the end of 2010, the company was still holding on to $132 million "for artists who have not registered or because of complications like bad or missing data about which songs the services have played."
In addition, SirisuXM CEO Mel Karmazin has been very vocal about wanting to negotiate deals directly with record companies, cutting out SoundExchange as the middleman. Sirius contributed $200 million to the SoundExchange pot last year. And everyone has heard about the direct Clear Channel deal Big Machine by now.
Read the entire New York Times piece HERE
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