SoundExchange announced that it paid recording artists and labels $773 million in 2014. The record figure is 31% greater than the $590 million it paid out the previous year. The final quarter of 2014 boosted the full-year performance with more than 38,800 payments totaling approximately $183 million, improving on the already strong payments from Q3. Compared with the same period in 2013, the number of Q4 payees increased 9% to 28,107. The company voiced optimism about the future of streaming as a strong option for listeners. It also means lots of money flowing through SoundExchange; over the past two years, it has made payments of nearly $1.5 billion.
The company had a busy year outside of its sizable royalty payments. SoundExchange launched Project72 in support of getting compensation for artists whose works were recorded prior to the enactment of federal copyright law. It also determined that current President and CEO Michael Huppe will retain those positions through 2018.