SoundExchange Releases List Of Unclaimed Digital Performance Royalties
SoundExchange continues its mission of rewarding musicians with their unclaimed digital performance royalties by today releasing a list of 50,000+ artist and label names owed tens of millions of dollars in royalty payments. This list also includes more than $31 million in royalties that are three or more years old ranging from $10 to more than $100,000, all of which have been collected by SoundExchange over the past decade.
“The digital music industry is continuing to grow, providing recording artists and record labels with an increasingly beneficial revenue stream,” said SoundExchange President Michael Huppe. “We are doing everything possible to make sure artists know that and capitalize on it.”
For those unfamiliar with SoundExchange, it is a nonprofit organization entrusted by the Library of Congress to collect and distribute royalties for sound recordings streamed on Internet radio, satellite radio and cable music services. The Copyright Royalty Board, created by Congress, has entrusted SoundExchange as the only entity in the United States to collect and distribute these digital performance royalties for featured recording artists and master rights owners.
“We want to get the money out of our bank account and into theirs – plain and simple,” added Huppe.
Since inception, SoundExchange has paid more than $1 billion in digital performance royalties to artists and labels. However, despite rising revenues and the organization’s increased outreach efforts, millions of dollars in royalties still remain unclaimed. With this list, they are encouraging artists and labels to view a searchable database located on its website to learn more and register to receive their share.