WASHINGTON, Jan. 16, 2014 /PRNewswire-USNewswire/ -- SoundExchange announced today Michael Huppe will continue to serve as its President and CEO through 2018. Huppe will continue to be responsible for setting the strategic direction of SoundExchange, managing its day-to-day operations, and ensuring its long-term growth in service of the music industry.
Since taking the helm in 2011, Huppe has successfully guided the organization through a period of exponential growth and unprecedented industry change. Under his leadership, SoundExchange enhanced its core operations and technology platform; increased its advocacy initiatives on behalf of the creative community; expanded its international presence; and more.
The move comes as SoundExchange royalties are now having a significant impact on the digital music economy, with annual cumulative payments to recording artists and record labels reaching nearly $2 billion paid since inception. At the same time, the organization achieved a low administrative rate of 4.9 percent for 2012, and maintains over 100,000 recording artists and rights holder accounts.
"I wake up every day excited and honored to lead SoundExchange as we help shape the music industry's future," said Huppe. "I appreciate the board's confidence in me, and look forward to working with them to continue to be a positive voice for both the organization and the recording artists and record labels we represent."
"This is unequivocally a great stabilizing move for SoundExchange," said SoundExchange Board Member and artist representative Jay Cooper, Shareholder at Greenberg Traurig. "Michael has shown us his ability to move SoundExchange forward and is the right leader, at the right time. He has the vision, the experience, and the creativity to take SoundExchange through the next five years and beyond."
"Michael took the helm at a particularly critical juncture as the music business transitions from the historical product-acquisition model to a music-access model. SoundExchange is one of the shining examples where we see the value of music actually on the rise. Michael's passionate leadership in the battle for music value is making a serious difference for both artists and music labels," said SoundExchange Board Member Tom Silverman, Tommy Boy Records and New Music Seminar founder.
"We could not be happier that Michael has agreed to stay on for another term and we look forward to his continued vision and leadership for the next five years," said SoundExchange Board Member Jeff Harleston, Universal Music Group. "Michael's approach is positive, invigorating and dynamic and is reflected in the steady growth and development of SoundExchange. He has emerged as a strong advocate and visionary for the digital music industry, and he has garnered respect from all corners of the recording industry and the tech community – rare qualities indeed."
SoundExchange is the independent nonprofit performance rights organization representing the entire recorded music industry. The organization collects statutory royalties on behalf of recording artists and master rights owners for the use of their sound recordings by satellite radio, Internet radio, cable TV music channels and other services. The Copyright Royalty Board, created by Congress, has entrusted SoundExchange as the only entity in the United States to collect and distribute these digital performance royalties from more than 2,000 services. SoundExchange has paid out nearly $2 billion in royalties since its inception. For more information, visit www.SoundExchange.com or www.facebook.com/soundexchange.