Photo and Article by: Jeff Watkins
Over 45,000 artists have signed up so far. $614 million in royalties have been paid, $250 million of them just last year. If you’ve been around a while, you’ve probably signed up. If you’re a new band, though, this should be towards to top of your band’s checklist. It’s fast, it’s easy, and there’s potential money for you.
SoundExchange takes royalty payments from non-interactive streaming music providers (XM, Pandora, Live 365) and pays them out to the artists and copyright owners for sound recordings.
All you need to do is register at SoundExchange, giving a few bits of info:
The importance of SoundExchange was brought up again and again at SF MusicTech, repeatedly getting mentioned as one of the few areas that’s having real growth in the music industry. Perhaps even cooler than total growth, the average payment to artists grew 80% last year to $2,800. Everyone needs to check this off of their to-do list early! Go now if you haven’t!
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