The shift in revenue from sales to streaming continues with SoundExchange paying $161 million in the last quarter to artists and labels. It the largest Q2 payment to date and an 8% increase in payments from 2,500 digital radio services in Q2 2013 to Q2 2014. SoundExchange second quarter 2014 highlights:
- $161 million paid directly to artists and labels
- 8% increase in payments from Q2 2013 to Q2 2014
- 22,343 payees in Q2 2014
- 34% increase in number of payees from Q2 2013 to Q2 2014
- $323.6 million paid directly to artists and labels YTD
- 45% of royalties paid directly to the recording artist
- 5% of royalties paid to backup musicians and session players via AFM and SAG–AFTRA
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