Royalties From Digital Radio Total $1 Billion since 2000
The music industry has vilified itself more than a little for consumers of digital media thanks to the widespread and overreaching piracy suits headed by the RIAA. It gets the point where you might think no money was made from digital music sales and streaming for artists or record levels, but that isn't the case.
SoundExchange is a nonprofit company that was founded in 2000 to handle online payments for streaming audio. The money the company collects is paid out to record labels and artists. The company says that so far this year quarterly payments have exceeded $100 million. The company also notes that overall since its founding in 2000 and it is paid out $1 billion in royalties. It sounds like digital music is starting to add up.
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