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SoundExchange announced Tuesday that it will begin distributing royalties to artists, labels, and rights owners on a monthly basis, making it the first nonprofit performing rights organization in the world to offer such a service. Royalty payments were previously made on a quarterly basis.
“While SoundExchange was already a market-leader with quarterly distributions, moving to monthly payments takes our service to the next level,” says SoundExchange President and CEO Michael Huppe.
The only organization of its kind in the United States, SoundExchange pays digital performance royalties to rights owners for the use of their songs on satellite and internet radio, cable TV music channels, and streaming services.
Payments will begin at the end of January to members registered for electronic payments that are due at least $250 in royalties. Following the initial roll out, the organization may widen the program’s eligibility qualifications.
“By making performance royalties available sooner, we are making it easier for recording artists and record labels to focus on creating the music we all enjoy,” says Huppe.