SoundExchange paid out $884 million in royalties to artists and labels in 2016, a 10.1 percent increase over the $803 paid out in 2015.
"We distributed record-setting royalties to artists and labels in 2016 and broadened our charter beyond our original role of administering statutory licenses," SoundExchange president and CEO Michael Huppe said in a statement. "In 2016, besides processing digital radio payments, we also launched new data validation services, managed the distribution of royalties for over a dozen direct licenses, and administered some critical industry settlements. These are significant milestones."
While SoundExchange remains the largest collector and distributor of statutory royalties to artist and labels for recorded music, during the year, SoundExchange managed 15 direct licensing deals, including Pandora's deals with record labels, which began in the fourth quarter.