Offering an innovative approach to royalty financing, Sound Royalties has announced its internal research indicates $14 million in artists' royalties go undistributed.
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Sound Royalties CEO Alex Heiche estimates $15,000 is the average amount of undistributed royalties per artist, generalizing from all those his organization investigated. Even stars such as Mariah Carey and Pharrell Williams can be victimized by glitches in the system that stop the money from moving.
Heiche said sometimes collecting societies "will freeze the payments, and they don't necessarily notify everybody. If we see something is frozen, that's a match."
Diligent digging into unpaid royalties lets Sound Royalties present itself as a potential agent for owners of rights to contract with to get musicians the money they are entitled to.
