SoundExchange paid out $204 million in the third quarter to 87,219 artists and labels, That's down 24% from the $267 million paid in the same quarter last year. Total payments year-to-date were $591.2 million, up from $590.6 million in 2014.
The lower payments likely stem from increase usage of on-demand streaming services like Spotify and Apple Music, at the same time that Pandora and SirisuXM growth is slowing.
With more than 2,500 digital services now participating and more than a half billion dollars paid out in royalties this year, SoundExchange’s payments represent 17% of total recorded music revenue in the U.S.
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