SoundExchange has began distributing proceeds to featured and non-featured performers of a SiriusXM legal settlement for use of sound recordings that were created prior to February 15, 1972.
The distribution began in the Fall of last year, but “as we distribute these funds in the future, recording artists will notice a line item on their statements that identifies “Pre-72 Settlement” royalties,” SoundExchange said in a statement on Wednesday.
“By selecting SoundExchange to manage this large settlement fund, the labels demonstrated their confidence in our track record managing multiple configurations of rights licenses and settlements. We thank the labels for choosing SoundExchange to make the artist distributions on their behalf,” SoundExchange President and Chief Executive Officer Michael Huppe said.