SoundExchange has released their 2014 year-end royalty payments report. The non-profit performing rights organization announced on Jan. 28th that 2014 was a record setting year, marking $773 million in payments to recording artists and labels, which is up 31 percent from $590 million the prior year.
“2014 was a banner year for SoundExchange. Not only did we pay out more royalties to recording artists and record labels, but they now receive payments faster than ever after we became the first sound recording performance rights organization in the world to deliver monthly payments,” said SoundExchange President and CEO Michael Huppe. “While 2014 finished on a high note, we look forward to continuing our success and growth in 2015 which promises to be even more exciting.”
In addition to the group’s benchmark year, SoundExchange also accomplished:
Launching Project72, a campaign to ensure fair pay to artists who recorded their music before 1972, in support of the RESPECT Act
Hosting the brand new SoundExchange Influencers Series at the Bluebird Café in Nashville.