TuneCore announced Wednesday it paid out $33.2 million in digital music royalties in the second quarter, up 18.4% from the same period in 2013 but down from $34.1 million in the first quarter. Earnings from its music publishing division were up 300% year over year but were not specified in the news release.
Its current numbers give TuneCore digital royalties a run rate of roughly $125 million. To put that number in perspective, RIAA members -- TuneCore is one of them -- will generate digital sales of roughly $4.3 billion in 2014, according to Billboard estimates.
TuneCore is a digital distributor and music publishing administer for independent artists. It distributes recordings to a litany of digital music services, such as iTunes, Amazon, Spotify and Rhapsody. Its music publishing administration division collects publishing royalties from digital services and also handles requests for synchronization licenses.
Distribution is increasingly international. It also distributes to Simfy and Juke in Germany, WiMP in Scandinavia, and throughout the world via Deezer and Sony Music Unlimited, among many other services. In 2014, TuneCore has added six services, including Asian subscription service KKBOX, Africa-focused download store Spinlet, and Anghami, a streaming service that offers Arabic and international music to consumers in the Middle East and North Africa.
The expansion outside of the United States is evident in the growth numbers. In the second quarter, digital music distributions rose 147% in Brazil, 65% in Scandinavia, 46% in Mexico, 52% in Asia and 43% in Germany.
Since its launch in 2006, TuneCore has paid out $438.8 million to artists as a result of 8.8 billion streams and downloads. It also announced Wednesday it has registered over one million artists.