SoundExchange Payments Rise 29% In Q3, Artists And Labels Paid Jump 45%
SoundExchange payments were up 29.2% last quarter. So while the U.S. digital PRO has taken some big hits lately, mostly thanks to Pandora and other direct licensing deals, this impressive growth should quiet any disparaging talk of its ongoing relevancy.
SoundExchange distributions of digital performance royalties to artists and rights owners increased by 29.2% in the third quarter of 2016, compared to Q3 2015. SoundExchange paid $263.5 million in royalties in the quarter, up from $204 million in the second quarter of 2016.
In total, SoundExchange has paid $666.9 million in royalties through the first nine months of the year.
The number of recording artists and rights owners served by SoundExchange also increased dramatically. In Q3 2016, 37,681 distinct payees received royalties from SoundExchange, up 45.2% from Q2.