Free money! Denver bands have unclaimed SoundExchange royalties. Are you on the list?
The bad news is you didn't win a gazillion dollars last night in Powerball -- some lucky jerk in Michigan did, apparently. The good news is that you may still have some unexpected cashola coming your way. Think of it as finding a crisp twenty in the pocket of pants you haven't worn in a while, or a handful of pennies in between the cushions -- whatever the case may be. SoundExchange is reportedly in possession of some $30 million that's owed to 50,000 bands, and it has released a full list of those acts.
With the power hereby vested in it by the U.S. Library of Congress, SoundExchange is in charge of collecting digital performance royalties on behalf of musicians or other organizations who own the rights to the recordings. The digital domain evidently includes satellite and Internet broadcasts as well as various other forms of streaming.
We took the SoundExchange search engine for a test drive, and the database returned the names of a number of past and present Denver groups, including still-active bands such as Swayback, Seraphim Shock, DeVotchKa (though it's listed as Devotchkas) and Slim Cessna's Auto Club, as well as a slew of dearly departed outfits like Born in the Flood, Cat-A-Tac, Planes Mistaken for Stars, Ghost Buffalo, Tickle Me Pink, Hot IQs and Single File.
Now, before you ask: We don't know how much those royalties amount to, or what time period this covers, or, well, honestly, any other information that could be considered helpful. We can just tell you that it appears that all of these acts are owed some loot. It's also worth noting that the results for both 16 Horsepower and Tickle Me Pink contained asterisks, suggesting that there's some caveat, say, perhaps, that a record label may be involved or something. For more information on how to collect or to see if you're listed in the database, feel free to let your fingers do the walking directly on SoundExchange's official website.
Page down to read the full press release.
SoundExchange Releases List of Recording Artists and Record Labels with Unclaimed Digital Performance Royalties August 15th
Organization Launches Effort to Encourage Music Industry to Register Online to Receive Digital Royalties They've Earned
WASHINGTON - August 15, 2012 - SoundExchange today released a list of more than 50,000 recording artist and record label names owed tens of millions of dollars in unclaimed digital performance royalty payments. This list also includes more than $31 million in royalties that are three or more years old.
The artists and labels named on the list have accumulated unclaimed royalties waiting to be paid out by SoundExchange, the nonprofit organization entrusted by the Library of Congress to collect and distribute royalties for sound recordings streamed on Internet radio, satellite radio and cable music services.
SoundExchange is encouraging recording artists and record labels to view the searchable database located on its website to learn more and register to receive their share. The unclaimed royalties, ranging from $10 to more than $100,000, have been collected by SoundExchange during the past decade. Those that are not included on the list, and have not yet registered with SoundExchange, are encouraged to also register to receive future digital radio royalties.
SoundExchange has paid more than $1 billion in digital performance royalties to the artists and labels it represents since its inception. However, despite rising revenues and the organization's increased outreach efforts, millions of dollars in royalties still remain unclaimed.
"The digital music industry is continuing to grow, providing recording artists and record labels with an increasingly beneficial revenue stream. We are doing everything possible to make sure artists and labels know that and capitalize on it," said SoundExchange President Michael Huppe. "SoundExchange is releasing this list in hopes of getting artists and copyright holders to claim their digital performance royalties. We want to get the money out of our bank account and into theirs - plain and simple."
SoundExchange has contacted tens of thousands of recording artists and record labels owed money throughout the years, and has registered more than 30,000 artists and labels in the last three years alone. As digital music listenership and performance royalties continue to grow, SoundExchange continues to increase its outreach efforts to educate and register those who have not yet claimed their share. The organization attends music industry events, and also reaches out via phone, email, social media, advertising, as well as via the posting of smaller, more targeted lists. SoundExchange also regularly matches its lists of unregistered recording artists and record labels against organizations whose members or user-base consists of these individuals. Past partners include BandPage, TuneCore, SonicBids, MySpace, Reverbnation, and more than 150 others.
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