SoundExchange posts strong Q3 2014 payments

SoundExchange announced its third-quarter financials, reporting a payment of $267 million for the three-month period. That figure was 75% higher than the $153.7 million payout from Q3 2013. The number of payees also increased between quarters, rising from 25,836 in Q3 2013 to 31,376 in Q3 2014.

In the year to date, SoundExchange has already paid out more than it did over the entirety of 2013. This year’s payments to recording artists and record labels have totaled $590.6 million thus far, compared with $590.4 million last year.