4-16-13
SoundExchange says its first-quarter 2013 distribution was $117.5 million. It's the organization?s largest first quarter payment to recording artists and record labels to date, with a nearly 10 percent increase from the first quarter 2012 distribution. SoundExchange distributed a record-setting $462 million to recording artists and labels in all of 2012. Since inception, SoundExchange has paid more than $1.5 billion in royalties to the creators of music.
SoundExchange President Michael Huppe said, ?Our first quarter numbers show that this digital radio revenue stream is continuing to grow. We are pleased to see 2013 off to an incredible start for the creators of music. We are committed to making sure recording artists and record labels receive the compensation they rightfully deserve, and we are proud to help facilitate this growth that helps move the music and creative community forward.?
