SoundExchange, the performance rights organization that Distributes digital performance royalties for digital radio, is celebrating it's 10th anniversary. The organization is marking the occasion by sharing a data filled infographic "10 Years in Play." In the last decade, SoundExchange has paid out more than $1.5 billion to creators. The organization's third-quarter 2013 payments of $153.7 million mark their highest quarterly payment to date.
When compared to SoundExchange's entire 2003 distribution of $3 million, it is clear that digital radio is exploding. SoundExchange now facilitates royalty payments from more than 2,000 digital radio services, including satellite radio, internet radio and cable TV channels.
To honor its 10 year anniversary, SoundExchange prepared an infographic entitled "10 Years in Play" sharing key data.
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"Music is more accessible now than ever before; today, a single sound recording can be streamed millions of times by listeners across the globe," said SoundExchange President and CEO Michael Huppe in a statement. "SoundExchange takes great pride in having helped enable the growth of the digital music industry, and we strive to ensure that all recording artists and labels are rewarded for their art. Over the last decade, we've grown as an organization, fought for what we believe in and persevered to become the company we are today. And we look forward to an even brighter future for the entire music industry."