SOUNDEXCHANGE HAS A PRETTY, PRETTY GOOD YEAR
Royalty-collection platform SoundExchange distributed nearly $947m in performance royalties to creators during fiscal 2020—a $39m increase over 2019.
“Music was among the industries hit hardest by the COVID-19 pandemic,” said Michael Huppe, President & CEO, SoundExchange. “With venues shuttered and touring revenue effectively nonexistent, digital royalties represented the lifeblood and primary income source for a large segment of the music industry.”
SoundExchange has now distributed nearly $8b in collections to creators since the company’s establishment in 2003. SoundExchange collects and distributes digital performance royalties on behalf of nearly 250k recording artists and master rights owners' accounts.
In other company news, SoundExchange was just named one of The Washington Post’s 2021 Top Workplaces in the Washington, D.C. area.
