Friday, August 24, 2012

Where Recording Artists Can Get Their Digital Streaming Royalties--Are You Owed Unclaimed Royalties?

Besides radio and television, electronic streaming of digital music has created a whole new potentional source of revenue for musical artists--satellite radio and the internet.  Apparently, many artists have royalty money waiting for them from these sources, and are leaving it uncollected. 

Sound Exchange is a nonprofit company that is empowered to collect and distribute royalties from non-interactive electronic music play (that means NOT from downloads).  To get the money, you have to register with them--at no cost--and they will send you the money which you are owed.  However, some artists have money waiting for them which they are not registered to collect.  How can you find out if you're one of them?  They have a searchable database of artists for whom they are holding royalty money.  Search it and find out if you have money waiting for you.

This takes on a certain urgency, since Sound Exchange has announced that after October 15, they will begin to "release older unclaimed royalties to offset our costs and distribute proportionally to those we already pay."  That is, they will keep some of the cash from older, uncollected royalties for their own expenses.  These are royalties of over 3 years.  If you are a musical artist whose work may have even conceivably been played on satellite radio, the internet or some form of electronic play, it would be worth your while to check the searchable database to see if you are owed any money.  If you have any questions, call 202-640-5858 or see the website.

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