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SoundExchange Pays Artists and Labels $162.4M, Biggest Q1 Ever

image from blogs-images.forbes.comSoundExchange 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 – paid to recording artists and record labels in Q1 2014. SoundExchange’s largest Q1 payment to date
  • $7 billion – total U.S. recorded music industry revenue in 2013
  • 8.4% – SoundExchange portion of U.S. recorded music revenue
  • 41.3 % – SoundExchange percentage of total U.S. music streaming revenue in 2013
  • 38% – SoundExchange payment increase from Q1 2013 to Q1 2014
  • 21% – percentage of music revenue from streaming in 2013
  • 2,500 – number of digital radio providers now using the statutory license that SoundExchange administers (up from 2,200 in 2012)