SoundExchange collected $947m in 2020, up 4% y-o-y

 

By Emmanuel Legrand

US neighbouring rights society SoundExchange has distributed nearly $947 million in performance royalties to performers and record labels during fiscal year 2020, up 4% over the previous year, or a $39m increase. The company did not disclosed how much it collected but said it operated with an administrative rate of 5.3%.

  Overall, SoundExchange has distributed nearly $8 billion in collections to creators since the company was set up in 2003 to collect performance rights on sound recordings played by non-interactive services like Pandora or SiriusXM. Its membership includes 250,000 recording artists' and master rights owners' accounts.

  “Music was among the industries hit hardest by the COVID-19 pandemic,” said Michael Huppe (pictured, below), President & CEO of SoundExchange. “With venues shuttered and touring revenue effectively non-existent, digital royalties represented the lifeblood and primary income source for a large segment of the music industry.”  

  Huppe said the society has managed to provide uninterrupted monthly royalty payments despite the ongoing challenges related to the COVID-19 pandemic. “It is a testament to our technology and data systems and point of great pride that SoundExchange was able to continue to deliver on-time and seamless payments to creators throughout 2020,” said Huppe.

  “I’m especially pleased that last year’s payouts were so robust at a time when creators needed them the most. We will never stop innovating and expanding our financial technologies and services so that we can continue to be a trusted leader in the digital-first age of music.”