SoundExchange distributed $238.9M in Q3, as 2022 payments near $1B
SoundExchange distributed $238.9 million in digital royalties in Q3 2022. Combined with the $464.9 million distributed in the first half of the year, annual distributions to date are $703.8 million and are on track to almost $1 billion for the full year.
As the only U.S. entity designated by Congress to administer the Section 114 sound recording license, SoundExchange collects and distributes these royalties to the musicians and rights owners to which they are due.
Since launching in 2003, SoundExchange has distributed more than $9 billion directly to 570,000 music creators.
Bruce Houghton is the Founder and Editor of Hypebot and MusicThinkTank and a Senior Advisor to Bandsintown, which acquired both publications in 2019. He is the President of the Skyline Artists Agency and a professor for the Berklee College Of Music.