TuneCore’s Q3 payouts surpass $32 million, new exec to join team

TuneCore paid $32.7 million to artists in the third quarter of 2014. That amount marked a 13.2% increase over the payouts made by the digital music distribution company in the same quarter of 2013. This is a solid performance, nearly matching the more than $33 million it distributed in 2014’s second quarter. Since launching in 2006, it it has paid $471.5 million for its clients.

The company added three new store partners during the period, including Russia’s Yandex Music. TuneCore reported that it now has more than 80 digital distribution partners around the world. Its services are designed to help independent musicians get their songs on streaming audio platforms.

In addition to marking the third-quarter figures, TuneCore shared that Joe Cuello will be joining the company as chief creative office. Cuello previously served as senior vice president of music services at MTV and he has spent more than two decades in the music industry. The formal announcement of the appointment will be on Thursday.