SoundExchange and SiriusXM Settle Case
WASHINGTON, June 11, 2018 /PRNewswire-USNewswire/ -- SoundExchange and SiriusXM have settled their litigation surrounding outstanding claims from January 2007 through December 2017 in exchange for a lump sum payment of $150 million. Commenting on the settlement, SoundExchange President and CEO Michael Huppe said:
"We are happy to resolve this case with SiriusXM. The settlement allows us to distribute additional royalties to SoundExchange's artists and rights owners while avoiding additional costly litigation."
SoundExchange will distribute the settlement funds to the rights owners and artists whose sound recordings were used during the settlement period.
About SoundExchange
SoundExchange manages sound recording and music works rights across the entire music industry. The organization collects and distributes digital performance royalties on behalf of more than 155,000 recording artists and master rights owners accounts and administers direct agreements on behalf of rights owners and licensees. To date, SoundExchange has paid out more than $5 billion in royalties. SXWorks, a SoundExchange subsidiary created with the acquisition of the Canadian Musical Reproduction Rights Agency Ltd. (CMRRA), provides global services to music publishers to support multiple licensing configurations. For more information, visit www.SoundExchange.com or http://sx-works.com
SOURCE SoundExchange
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