SoundExchange paid $162.4 million in royalties to artists and record labels in the first three months of 2014, according to figures released today. To date, they have paid out more than $2 billion in royalties with payments come from both subscription and ad-supported non-interactive streaming services.
The new stats come as part of SoundExchanges first ever Digital Radio Report which will share payments stats along with a state of digital radio streaming for artists and labels quarterly.
Some highlights of the new report:
- $162.4 million â paid to recording artists and record labels in Q1 2014. SoundExchangeâs largest Q1 payment to date
- $7 billion â total U.S. recorded music industry revenue in 2013
- 8.4% â SoundExchange portion of U.S. recorded music revenue
- 41.3 % â SoundExchange percentage of total U.S. music streaming revenue in 2013
- 38% â SoundExchange payment increase from Q1 2013 to Q1 2014
- 21% â percentage of music revenue from streaming in 2013
- 2,500 â number of digital radio providers now using the statutory license that SoundExchange administers (up from 2,200 in 2012)