SOUNDEXCHANGE ENABLES CREATORS TO RECEIVE DIGITAL ROYALTIES THROUGH VENMO AND PAYPAL

Additional mobile payment options increase ease and speed of royalty distributions for musicians, comedians, and other creators 

WASHINGTON, July 12, 2023 /PRNewswire/ -- SoundExchange, the premier music tech organization powering the future of music, today announced the addition of PayPal and Venmo as royalty distribution payment options for registered creators. SoundExchange is transforming how creators receive compensation for their musical work by distributing royalty payments easily and immediately into their bank accounts – one of the only organizations of its kind to do so. Along with Paypal and Venmo, last year SoundExchange began offering registered creators the choice of receiving royalty payments using CashApp and Zelle.

"SoundExchange is the only collective to offer creators the option of receiving royalties via mobile payments apps on a monthly basis," said Michael Huppe, President and CEO of SoundExchange. "We always strive to meet creators where they are and to simplify their payments/compensation/royalties. By adding PayPal and Venmo to our suite of mobile app payment options, we continue to show what's possible when adopting technologies and tools that streamline the business of music for all creators."

Paypal and Venmo Available Immediately to Creators  

Payment via PayPal is an immediately available option for domestic and international registrants, whether they are paid as individuals or companies.

Although SoundExchange offers direct deposits to banks in Canada, the United Kingdom, the Eurozone, and more, there are countries that could not be serviced via traditional direct deposits. Offering PayPal allows international registrants to receive their SoundExchange royalties in places beyond traditional options without requiring a bank account. 

In order to sign up for either Paypal or Venmo, creators are encouraged to use SXDirect, which offers self-service opt-ins for all payment methods SoundExchange currently offers. For more information on how to use SXDirect to sign up for PayPal or Zelle payments, please read the step-by-step instructions here.

This mobile payment initiative is the latest instance of SoundExchange supporting creators and moving the industry forward through technology. In 2022, SoundExchange launched a mobile app (Google/Android and Apple/IOS), a new website, and additional digital tools to support its growing community of more than 650,000 creators.

About SoundExchange:
SoundExchange is the premier music tech organization on a mission to power the future of music. It was independently formed in 2003 to build a fairer, simpler, and more efficient music industry through technology, data, and advocacy. The only organization designated by the U.S. government to administer the Section 114 sound recording license, SoundExchange collects and distributes digital performance royalties on behalf of 650,000 music creators and growing. Through proprietary music tech solutions that turn data into accurate revenue, SoundExchange has paid more than $10 billion in distributions to date. For more information, visit soundexchange.com.

SOURCE SoundExchange