SoundExchange to Payout $860 Million in Digital Royalties This Year, CEO Calls Out Radio Over Royalties
While m
ost companies in the music industry are immigrants to the digital world, having been formed when the industry was still analog, SoundExchange is a “digital native” by design.This was the opening salvo to the A2IM convention, held in New York City, from SoundExchange president and CEO Mike Huppe.The organization accounted for $803 million in payouts last year — in its first that figure was $20 million — with Huppe projecting that payouts would reach around $860 million this time around the sun.
Not including this year SoundExchange has paid out $3.5 billion. Overall, SoundExchange claims 16 percent of the U.S. market for royalty collections. Huppe also claimed to have the lowest overhead of any royalty collection organization, with a 4.6 percent administration rate — although that would be disproved later in the day by Merlin, which carries a 2 percent administration rate.
Source: Billboard