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SoundExchange Holding More Than $200 Million In Back Royalties

SoundExchange Holding More Than $200 Million In Back Royalties

For those not in the know, SoundExchange is the one organization in the U.S. that has the rights to collect royalty payments from non-traditional sources, like satellite radio, cable TV channels, Internet radio, and similar platforms. Basically, every time you hear a National song on Sirius XM, Sirius XM kicks some money to SoundExchange, which, then, in theory, gives the National the money for the play. The reason I used "in theory"? SoundExchange has more than $200 million dollars sitting in its accounts, waiting to be paid out to artists, which is a shitload of money for a non-profit to be sitting on.

 

Apparently, there are two things happening at once that have made this much money pile up: One, royalty payouts for these kind of platforms is straight up booming, and two, artists aren't getting in touch with SoundExchange, and the company is having problems getting a hold of the bands that are entitled their royalty payments. Digital Music News has the story. Head there for more deets. Seriously, bands, get that paper. 

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