SoundExchange Q2 Digital Radio Report Highlights Digital Radio Transformation

WASHINGTON, Aug. 21, 2014 /PRNewswire/ -- The way we listen to music has changed drastically in the past 15 years — from CDs to digital downloads to digital radio services. As the industry transitions from music as "something you own" to "something you access from anywhere at any time," SoundExchange helps the music and creative community thrive in the digital age.

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Today, there are more than 2,500 digital radio services taking advantage of the statutory license that SoundExchange administers. SoundExchange pays royalties to the musicians and labels that created the music these services play.

SoundExchange second quarter 2014 highlights:

• $161 million paid directly to artists and labels
• 8% increase in payments from Q2 2013 to Q2 2014
• 22,343 payees in Q2 2014
• 34% increase in number of payees from Q2 2013 to Q2 2014
• $323.6 million paid directly to artists and labels YTD
• 45% of royalties paid directly to the recording artist
• 5% of royalties paid to backup musicians and session players via AFM and SAG-AFTRA

About SoundExchange
SoundExchange is the independent nonprofit performance rights organization representing the entire recorded music industry. The organization collects statutory royalties on behalf of recording artists and master rights owners for the use of their content on satellite radio, Internet radio, cable TV music channels and other services that stream sound recordings. The Copyright Royalty Board, created by Congress, has entrusted SoundExchange as the only entity in the United States to collect and distribute these digital performance royalties from more than 2,500 services. SoundExchange has paid out more than $2 billion in royalties since its inception. For more information, visit www.SoundExchange.com or www.facebook.com/soundexchange.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/players/English/7237851-soundexchange-q2-digital-radio-report/

SOURCE SoundExchange