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    SoundExchange Paid Out Record $149 Million in Q2

    Signaling the strength of Internet and satellite radio, SoundExchange paid out a record $149 million to record labels and artists in the second quarter of 2013, 55% increase over the same period in 2012.

    SoundExchange is the non-profit organization that collects performance royalties from digital music services and distributes them to record labels, performing artists and non-performing artists. Services that use compulsory license established by U.S. copyright law — Pandora, SiriusXM, iHeartRadio et al. — pay to SoundExchange.

    “SoundExchange’s most recent distribution is yet another positive indication of where the industry is heading, said Michael Huppe, president and CEO, SoundExchange, in a statement. He added that SoundExchange’s 4.9% administrative fee for 2012, down from 5.2% in 2011, put more money into owners’ and creators’ pockets. The organization takes the fee before distributing money to labels and performers.

    Read the full story: Billboard