As the music industry reels from lost touring income, SoundExchange has some positive news on the streaming front today (April 9).The rights management agency has officially surpassed $7 billion in total royalty distributions to music creators since its creation in 2003.
SoundExchange -- which collects and distributes performance royalties for non-interactive digital music streams -- also announced that it handed out $224 million during the first quarter of 2020, reflecting a 1.5% year-over-year increase compared to its distributions in Q1 2019.A representative for the agency said that in the most recent distribution, SoundExchange paid nearly 30,000 separate accounts, with more than half receiving $1,000 or less -- presumably artists who.