SoundExchange Q3 payments increased nearly 30% on-year

SoundExchange shared its data for Q3 2016 royalty payments. The company paid out $263.5 million in royalties during the period. That’s growth of 29.2% from Q3 2015’s $204 million. This result brings SoundExchange’s year-to-date payments to $666.9 million.

If SoundExchange can maintain this growth rate, is will be on track to handily exceed its payments during 2015. Distributions for last year reached a record high of $802.6 million. In fact, President and CEO Michael Huppe projected that 2016 distributions could be $860 million.