SOUNDEXCHANGE AND SOUND CREDIT ANNOUNCE PARTNERSHIP

SOUNDEXCHANGE AND SOUND CREDIT ANNOUNCE PARTNERSHIP

SOUNDEXCHANGE AND SOUND CREDIT ANNOUNCE PARTNERSHIP TO OPTIMIZE CONTRIBUTOR CREDIT DATA, STREAMLINING MONTHLY ROYALTY PAYMENTS FOR CREATORS

Newest contributor credit integration strengthens accuracy and efficiency of SoundExchange’s monthly distributions to creators

WASHINGTON, June 7, 2022 /PRNewswire/ — SoundExchange, the premier music tech organization powering the future of music, and Sound Credit today announced a new partnership to increase the accuracy and efficiency of SoundExchange’s monthly royalty distributions to registered creators. The partnership will provide more accurate data on who should be paid for sound recording royalties and follows the rollout of new digital tools and a new mobile app by SoundExchange earlier this week.

Sound Credit is a leading global music credits platform that is dedicated to revolutionizing the supply chain of sound recordings from the studio through to the listener. The platform collects and compiles critical data on who contributed to a recording in order to increase the accuracy of royalty distributions around the globe and ensure that the right payments get into the pockets of contributors. Sound Credit’s proprietary software, including a new mobile app and a revolutionary in-studio Creator Kiosk, allows creators to enter, edit, and export credits with ease to more than 40 platforms.

SoundExchange will now be able to receive and store Sound Credit’s high quality contributor information to provide greater accuracy in paying music creators by using the data as a reference when creating performer lineups. Knowing who is owed a royalty payment for a recording before it is even played can help streamline monthly distributions by increasing the accuracy and efficiency of royalty payments. Creators will still need to register directly with SoundExchange to receive royalty payments.

“SoundExchange is committed to building a fairer, simpler, and more efficient music industry and that includes ensuring our monthly distributions are as accurate and streamlined as possible,” said Michael Huppe, president and CEO of SoundExchange. “We are always looking for the best partners to help maximize the quality of our performer lineups and we look forward to partnering with Sound Credit and others to advance this goal.”

“This integration means that music creators can use any device to enter information into one platform, click a button, and deliver credits to Sound Exchange among over 40 other critical destinations and formats,” said Gebre Waddell, founder and CEO of Sound Credit.

As the only organization designated by the U.S. government to administer the Section 114 sound recording license, SoundExchange is a critical source of revenue for music creators, collecting and distributing digital performance royalties on behalf of more than 570,000 music creators using proprietary technology solutions. To date, SoundExchange has distributed more than $9 billion in digital royalties directly to music creators including $235 million during the first quarter of 2022.

Identifying creators entitled to royalty payments early in the creative process removes any doubt as to whom should be paid, and it reduces the number of creators missing out on royalties by minimizing the need for manual claiming. This approach also shortens the time that it takes to pay out royalties, as all the necessary work is done before a recording is even played.

About SoundExchange:
SoundExchange is the premier music tech organization on a mission to power the future of music. It was independently formed in 2003 to build a fairer, simpler, and more efficient music industry through technology, data, and advocacy. The only organization designated by the U.S. government to administer the Section 114 sound recording license, SoundExchange collects and distributes digital performance royalties on behalf of 570,000 music creators and growing. Through proprietary music tech solutions that turn data into accurate revenue, SoundExchange has paid more than $9 billion in distributions to date. For more information, visit soundexchange.com.

About Sound Credit:
Sound Credit is the standard platform for music credits. Founded in 2016, the platform has users in over 60 countries, and integrations with over 40 organizations and formats. The platform allows music creators to enter information using a physical kiosk, mobile app, desktop app, or plug-in, and distribute the data throughout the music industry supply chain. Sound Credit’s mission is to help music organizations accurately recognize and pay music creators with easy-to-use technology and services that improve the quality of music data. For more information, visit soundcredit.com.

SOURCE – SoundExchange

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