Despite growing efforts by Clear Channel and others to licence music directly, digital music performing rights organization SoundExchange had announced a first-quarter 2013 distribution of $117.5 million. It's their largest first quarter payment ever and 10% above Q1 2012 distribution.
SoundExchange distributed $462 million to recording artists and labels in all of 2012. Since inception, they've paid more than $1.5 billion in royalties from 2,000 digital music services.
"Our first quarter numbers show that this digital radio revenue stream is continuing to grow." said SoundExchange President, Michael Huppe . "We are committed to making sure recording artists and record labels receive the compensation they rightfully deserve, and we are proud to help facilitate this growth that helps move the music and creative community forward."