(Hypebot) — SoundExchange announced that it paid out $257 million in royalties in the third quarter of 2023, an 8% increase from the same period in 2022.
Year-to-date, SoundExchange distribution payments total $755 million.
Since 2003, SoundExchange has distributed more than $10 billion directly to more than 650,000 music creators globally.
SoundExchange is the only organization designated by the U.S. government to administer the Section 114 sound recording license, collecting and distributing non-interactive digital performance royalties to musicians and rights owners.
