SoundExchange Hits $9 Billion Milestone
“SoundExchange is powering the future of music by distributing billions of dollars to creators who are the heart and soul of our industry,” said Michael Huppe, President & CEO of SoundExchange. “We’ve seen the return of our vibrant music community over the last several months, and we are proud to play a role in building a fairer, simpler, and more efficient industry. These remarkable milestones represent our ever-expanding commitment to combine technology, data, and advocacy to improve the creative return at all levels.”
SoundExchange is a critical source of revenue for music creators, collecting and distributing digital performance royalties on behalf of 560,000 music creators using proprietary technology solutions. The cloud-native organization has helped creators stay afloat during unforeseen challenges through its industry-leading use of technology and data.
According to the Recording Industry Association of America, recorded music revenues in the United States grew by 23% in 2021 to $15 billion at estimated retail value. Streaming revenues accounted for 83% of total revenue, totaling $12.4 billion in 2021 — a 24% increase over 2020.