SoundExchange has distributed a total of $235 million during the first quarter of 2022, completing its 150th royalty distribution. It has distributed more than $9 billion in digital royalties directly to music creators since 2003.
“SoundExchange is powering the future of music by distributing billions of dollars to creators who are the heart and soul of our industry,” said Michael Huppe, President/CEO of SoundExchange. “We’ve seen the return of our vibrant music community over the last several months, and we are proud to play a role in building a fairer, simpler, and more efficient industry.”
According to the Recording Industry Association of America, recorded music revenues in the United States grew by 23% in 2021 to $15 billion at estimated retail value. Streaming revenues accounted for 83% of total revenue, totaling $12.4 billion in 2021 – a 24% increase over 2020.