SoundExchange Q1 Payouts

A SOUND EXCHANGE: Performance rights org SoundExchange will hand out Q1 funds of $117.5 million to recording artists and record labels, “the largest first-quarter payment to date with a nearly 10% increase from Q1 2012." The organization distributed a record-setting $462 million to recording artists and labels last year. Since inception, SoundExchange has paid more than $1.5 billion in royalties to the creators of music, and now works with more than 2,000 digital music services that rely on it to administer the statutory license for the use of sound recordings. “We are pleased to see 2013 off to an incredible start for the creators of music," said Pres. Michael Huppe. "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. Now can anyone spare $5 for a cup of coffee?" (4/16p)