WASHINGTON (CelebrityAccess) — SoundExchange announced a new record with total year-end royalty payments reaching $802.6 million (up 4 percent from $773.4 million the prior year). The fourth quarter 2015 distribution also increased, totaling $211.4 million (up 16 percent from $182.8 million the prior year).
"As we close the books on a historic year in distributions for SoundExchange, we are looking forward to 2016. In the year ahead we will continue to develop products and services that help the music industry run more efficiently, increase the velocity of payments and reduce friction," SoundExchange President and CEO Michael Huppe said. "We believe 2016 will be our best year yet, and we are eager to share this ride together."
More than 2,500 non-interactive Internet radio, satellite radio and cable radio services pay royalties to recording artists and rights holders through SoundExchange.
In addition to surpassing $800 million in royalties paid for the first time, SoundExchange reached many important milestones in 2015 that moved the recorded music industry forward. SoundExchange's 2015 achievements include: