Perhaps you have heard the name and wondered who Soundexchange is and what they do.
In a nutshell, Soundexchange is the organization that collects royalties from digital and online sources, such as streaming services (Rdio, Spotify-coming soon to Canada, etc.), satellite radio, and cable music services, calculates how much each artists and recording company is owed in royalties for the performances of their work, and sends those folks a cheque.
Well to be precise, they send you a “check”, because Soundexchange is based in the United States, and that is where this particular royalty stream that is paid to artists and labels originates.
Keep in mind; this money goes to the artists and labels, as opposed to songwriters and music publishers who receive their US performance royalties through SOCAN, who is represented in the US by ASCAP, BMI and SESAC.
And yes, as a Canadian you can register your independent record or label with Soundexchange and receive payments directly from them. If you are an artist and/or label and have not done so already, may I suggest you go to http://www.soundexchange.com, and register ASAP.
After all, Soundexchange has already paid out over $1 billion in digital performance royalties, and the amount of royalties it distributes is growing every year.
If getting paid for the performance of your music online in the US isn’t incentive enough, how’s this? There is 31 million American dollars in Soundexchange’s bank account that it wants to pay to artists and record labels whose music has been streamed in the US. Problem is, it can’t find them.
So here’s the question: Are you one of those artists or record labels?
The good news is there is an easy way to find out. Just follow the link below and search the database of those that are owed money. Some unknown folks are owed as much as $100,000.
Acting Co-chair, Music Creators North America