SOUNDEXCHANGE SURPASSES $12 BILLION CUMULATIVE DISTRIBUTION MILESTONE

2024 Distributions to Artists and Rights Owners Topped $1B

WASHINGTON, Feb. 24, 2025 /PRNewswire/ -- SoundExchange today announced that it has surpassed $12 billion in distributions to artists and rights owners since the company's inception in 2003. The milestone was reached with the company's 185th distribution in February and comes less than a year after passing the $11 billion mark in 2024.

In the fourth quarter of 2024, SoundExchange distributed $248.6 million to creators, bringing the company's full year gross distributions to a total of $1.05 billion, up 4.9% over 2023.

"This milestone is a reflection of our vigorous commitment to amplifying the value of music, paired with a healthy and growing digital music ecosystem," said Michael Huppe, President and CEO of SoundExchange. "There is nothing more satisfying than putting money into the hands of those who have earned it with their talent, artistry, and passion. It's our reason for being and it's our privilege and honor to reliably serve the SoundExchange creator community."

In administering non-interactive digital streaming services, SoundExchange enables digital service providers (DSPs) to meet their obligations to artists and rights owners under U.S. law. Serving a community of more than 700,000 registered creators, the non-profit company is the global gold standard for the collection and distribution of royalties, paying out monthly with more than 90% of all collections distributed within 45 days of receipt.

SoundExchange is also the world's largest global collective management organization, working with nearly 60 international partners covering 87% of the available neighboring rights market to collect performance royalties for more than 474,000 creators when their music is played overseas.

The company proudly and fiercely advocates on behalf of creators to increase the value of music, achieving substantial increases – 711% for satellite royalties, 294% for subscription royalties, and 215% for non-subscription royalties – through the U.S. Copyright Royalty Board over the last two decades. SoundExchange's advocacy for creators also extends to Congress, where the company leads the push for the American Music Fairness Act, recently reintroduced bipartisan legislation to secure royalties for performers whose music is played on U.S. broadcast radio.

About SoundExchange
SoundExchange is the premier music tech organization on a mission to power the future of music. It was independently formed in 2003 to build a fairer, simpler, and more efficient music industry through technology, data, and advocacy. The only organization designated by the U.S. government to administer the Section 114 sound recording license, SoundExchange collects and distributes digital performance royalties on behalf of 700,000 music creators and growing. Through proprietary music tech solutions that turn data into accurate revenue, SoundExchange has paid more than $12 billion in distributions to date. For more information, visit soundexchange.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/soundexchange-surpasses-12-billion-cumulative-distribution-milestone-302383478.html

SOURCE SoundExchange