SoundExhange Pays Out $122.5 Million in Q3
SoundExchange says the $122.5 million was the largest quarterly payment to artists ever. President Michael Huppe said, “This distribution means so much for the recording artists and record labels that rely upon this growing revenue stream. Musicians and rights owners – both superstars and rising stars – have come to depend on these royalty payments.” So far in 2012, SoundExchange has paid out $326.9 million, $30 million more than all of 2011.
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