SOUNDEXCHANGE HITS THE $10 BILLI MARK

SoundExchange is celebrating its 20th anniversary alongside another milestone: In March the music tech organization reached a cumulative distribution of $10b in the digital streaming royalties that go directly to music creators and rightsholders.

“Crossing the $10 billion threshold and celebrating our 20th anniversary demonstrate our dedication to serving the entire music industry," SoundExchange President/CEO Michael Huppe said. "Over the past 20 years, we've grown into a global music tech organization, distributing around $1 billion annually to a creator community of more than 650,000.”

As a result, the company will receive the Music Business Association’s inaugural Impact Award for Technological Excellence. Huppe will accept the honor during the Music Biz 2023 conference 5/15 in Nashville.

The Roots’ Black Thought and Questlove said in a joint statement: "SoundExchange is more than just a royalty collection agency. They are a vital partner in the success of the music industry. Their unwavering commitment to innovation, fairness and transparency sets them apart.”

Founded in 2003, SoundExchange, whose board is made up of artists, managers, unions and indie and major labels, vowed to represent the entire recorded music industry. The company collected nearly $16m in non-interactive digital streaming royalties its first year and has grown exponentially since.

For more information on SoundExchange, head here.