Good news: SoundExchange wants to get your money in your pockets a little bit faster. Users can now expect to receive payments monthly—as opposed to the old quarterly practice the company used in years passed.
Starting this month, digital music performing rights organization SoundExchange moves from quarterly to monthly payments to artists, labels and rights owners signed up to receive electronic payments. SoundExchange is the first music performance rights organization in the world to offer monthly distributions. Some PROs in other countries pay annually.
SoundExchange, which recently celebrated its 10-year anniversary, has paid out more than $2 billion to rightsholders from 2,000 digital music services ranging from Pandora to SiriusXM . Initially, monthly royalty payments will be sent to members that receive electronic payments, and have royalties due of at least $250. Artists and labels that do not meet the threshold will continue to be paid quarterly.