SoundExchange announced today that is it has distributed $204.4 million in digital royalty payments to artists and labels in the first two quarters of 2012. In its second quarter alone, the nonprofit PRO distributed $95.8 million, the second highest quarterly distribution in the organization's history.
"This quarter's distribution adds to what is shaping up to be a record breaking year for SoundExchange and reflects the continued growth of digital radio listenership and services," said SoundExchange president, Michael Huppe. "SoundExchange is proud to be part of this growing revenue stream for the creators of music. We will continue to pursue all efforts to ensure that artist and labels are properly compensated for their critical contributions to these services."
SoundExchange represents tens of thousands of artists and labels and works with more than 1,800 digital music platforms that rely on the organization for their digital sound recording licensing rights.