Back to all posts

The Importance of Soundexchange pt.1: Unclaimed Royalties

 

Don't Let Your Royalties Slip Through the Cracks: Register with SoundExchange

By: Mike Cole (iKnow University Founder) | 10/09/2024

 

As an independent artist, every dollar counts. Unfortunately, many musicians are unaware of the significant amount of unclaimed royalties sitting out there. These are funds that rightfully belong to artists but are often overlooked or lost. If music is a career, then it's business, and as a business, missing out on funds earned is a big no no. But, don't worry… We are here to help.

Below is the first part of this SoundExchange blog series and we are starting off with “Unclaimed Royalties” and how you can register with SoundExchang and get the money that your music has already earned.

What is SoundExchange?

SoundExchange is a digital music royalty organization that collects royalties for sound recordings from radio stations and satellite broadcasters. These royalties are then distributed to the artists, record labels, and musicians who created the recordings.

What are unclaimed royalties?

Unclaimed royalties are payments due to artists for the use of their music. These payments can come from various sources, including radio airplay, streaming services, and public performances. If your music has been used without proper tracking or registration, you might be missing out on substantial income.

Do unclaimed royalties expire?

Yes, after 3 years royalties expire and SoundExchange is authorized by regulation to release unclaimed royalties.

Dor more information and questions, here is a direct link to the Soundexchange FAQ page.

Why should you register with SoundExchange?

SoundExchange is a digital music royalty organization that collects and distributes royalties for sound recordings. By registering your music with SoundExchange, you ensure that your recordings are properly tracked and accounted for. This means that when your music is played on radio or satellite broadcasts, the royalties generated will be collected and distributed to you.

Here's why registering with SoundExchange is crucial:

  • Claim your rightful earnings: By registering, you're taking a proactive step to claim the royalties you've earned.
  • Accurate royalty tracking: SoundExchange's database helps ensure that your royalties are calculated correctly and distributed to the appropriate parties.
  • Increased visibility: Registering your music with SoundExchange can also increase your visibility within the industry.

How to register with SoundExchange:

SoundExchange is a digital music licensing organization that collects royalties for sound recordings. If you're a songwriter, musician, or record label, registering your songs with SoundExchange is crucial to ensure you receive proper compensation for your work. Here's a detailed guide on how to do it:

1. Create a SoundExchange Account

2. Become a Full Member

To register songs and claim royalties, you'll need to become a full member of SoundExchange. This involves providing additional information about your identity and business.

  • Complete the membership application: Log in to your account and navigate to the membership section. Fill out the required forms and submit the necessary documentation.
  • Verify your identity: SoundExchange may require you to verify your identity through various means, such as providing a copy of your driver's license or passport.

3. Obtain an ISRC Code

An ISRC (International Standard Recording Code) is a unique identifier assigned to each sound recording. It's essential for registering your song with SoundExchange.

  • Generate an ISRC: You can generate ISRC codes through various online tools or by contacting your local music industry association.
  • Note the ISRC: Make sure to record the ISRC code for each song you want to register.

4. Upload Audio Files

Once you have your ISRC code, you'll need to upload audio files of your songs to SoundExchange.

  • Log in to your account: Access your SoundExchange account.
  • Go to the "Register Releases" section: Find the option to register new releases.
  • Upload audio files: Follow the instructions to upload your audio files. You may need to provide additional information such as the song title, artist name, and release date.

5. Claim Your Song

After registering your song, you'll need to claim it to ensure you receive royalties for any broadcasts or public performances.

  • Log in to your account: Access your SoundExchange account.
  • Go to the "Claim Releases" section: Find the option to claim your registered songs.
  • Follow the instructions: Complete the necessary steps to claim your songs.

Additional Tips

  • Keep your account updated: Regularly review your SoundExchange account to ensure your contact information and other details are accurate.
  • Monitor your royalties: SoundExchange will provide you with information about your royalty earnings. Keep track of your payments and any discrepancies.
  • Seek assistance: If you have any questions or encounter problems, don't hesitate to contact SoundExchange's customer support.

By following these steps, you can effectively register your songs with SoundExchange and ensure that you receive fair compensation for your musical creations.

Don't miss out on your hard-earned money.

By registering with SoundExchange, you're taking a crucial step to protect your rights as an independent artist and ensure that you receive the royalties you deserve. So, what are you waiting for? Start the registration process today and unlock your hidden revenue potential.

Leave a comment