SoundExchange releases database to help disperse unpaid funds
Digital performing rights org SoundExchange has released a list of more than 50,000 artists and labels that are owed tens of millions in unclaimed digital performance royalty statements.
Unclaimed royalties — derived from digital streaming services, including Web, satellite and cable radio — range from $10 to more than $100,000 per account and have been collected by SoundExchange over the past decade. More than $31 million in royalties are three or more years old.
SoundExchange prexy Michael Huppe said in a statement, “SoundExchange is releasing this list in hopes of getting artists and copyright holders to claim their digital performance royalties. We want to get the money out of our bank account and into theirs — plain and simple.”
The PRO has established a searchable database on its website, where artists and labels can register to receive their share of the royalty holdings. More than 30,000 artists and labels have registered in the past three years.
SoundExchange has paid out more than $1 billion in royalties since its inception in 2003.