According to figures released yesterday (June 19) from SoundExchange‘s first Digital Radio Report, SoundExchange paid $162.4 million in royalties to artists and record labels in the first quarter of 2014. This marks SoundExchange’s largest Q1 payment to artists and labels to date, and a 38 percent increase from Q1 2013 to Q1 2014.
Other statistics shared within the Digital Radio report include:
- The U.S. recorded music industry earned a total revenue of $7 billion in 2013.
- SoundExchange accounts for 8.4 percent of the U.S. recorded music revenue, as well as 41.3 percent of total U.S. music streaming revenue in 2013.
- Twenty-eight percent of music revenues in 2013 came from streaming.
- SoundExchange claims 2,500 digital radio providers now use the statutory license that SoundExchange administers, up from 2,200 in 2012.
The Digital Radio Report will share payments statistics, as well as a quarterly state of digital radio streaming for artists and labels.
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About the Author
Jessica Nicholson serves as the Managing Editor for MusicRow magazine. Her previous music journalism experience includes work with Country Weekly magazine and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at jnicholson@musicrow.com.View Author Profile
