SoundExchange collected and distributed $1 billion while maintaining one of the music industry’s lowest administration rates, adding new tools, and advocating for creators
WASHINGTON, July 20, 2023 /PRNewswire/ — SoundExchange, the premier music tech organization powering the future of music, announced today the release of its 2022 Annual Report. During the 12-month period from January through December, the company collected $1.017 billion digital royalties from more than 3,600 digital streaming platforms and distributed them to more than 600,000 creators and rights holders.
The annual report provides a holistic look at SoundExchange in 2022, from distribution and collection information, new initiatives, and advocacy work to the company’s impact according to creators like Ludacris and Billie Eilish. It also highlights the SoundExchange ecosystem, digital innovations, international collections, and the company’s growing publishing services through SX Works.
Access the full report here.
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.
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SOURCE SoundExchange
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