SoundExchange pays out $773m to artists and labels in 2014

US public performance collection society SoundExchange paid a record $773 million to recording artists and record labels in 2014.

The group collects revenues for master rights holders from more than 2,500 non-interative internet, satellite and cable radio services – including Pandora, Sirius XM and IHeartRadio.

2014’s payout tally is up 31% from the $590 million paid out in 2013.

SoundExchange’s Q4 2014 distribution also increased from the previous year with more than 38,800 payments totaling approximately $183 million.

Said SoundExchange president and CEO Michael Huppe (pictured): “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.”

“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.”Music Business Worldwide

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