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SoundExchange Q4 royalty payouts

SEX-Y & THEY KNOW IT: SoundExchange said on Tuesday it distributed a record $89.5 million during Q4, Digital Media Wire reports. The org said it made $292 million in royalty payments during 2011, up 17% from the prior year. “Our growth is encouraging news for the industry,” said President Michael Huppe. The news follows several recent executive appointments for the organization, which toward the end of last year named Scott Day as CTO and Jonathan Bender as COO. Day previously was the CTO of The Motley Fool, while Bender was the SVP of Operations, IT and Digital Development for Concord Music Group. (1/18a)

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