Sound Royalties Unearths Millions in Undistributed Royalties
Nearly $14 million in undistributed royalties has been found by music-focused finance firm Sound Royalties
Sound Royalties has unearthed nearly $14 million in earned but undistributed royalties owed to roughly 330 music industry professionals. These royalties stem from a variety of sources, including performance royalties, songwriter and producer royalties, and music streaming royalties.
Most of the artists, songwriters and producers affected either don't realize they have these hefty payments outstanding to them, or aren't sure of the best way to recover them. Even household names like Mariah Carey, Pharrell Williams, Joe Perry, Randy Jackson and John Carter-Cash appear on Sound Royalties' list of those with undistributed royalties.
"The fact that artists of this caliber – some of the savviest in the industry and backed by the strongest possible teams – are still not collecting everything owed to them, points to the prominence and seriousness of this situation," said Sound Royalties Founder and CEO Alex Heiche. "If they are struggling with this, just imagine the problems it causes for the average artist."
Sound Royalties initially came across the issue of undistributed royalties in its research for existing customers, including industry-leading songwriters Makeba Riddick and Priscilla Renea, and has helped them claim their rightful overdue funds. The company quickly realized the pervasiveness of the problem industry-wide, and is now actively engaged in helping all creatives recover any such monies owed to them.
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