Exclusive: iLike Matching $8 Million for SoundExchange

SoundExchange Releases 'Music Data Exchange (MDX)' - Here's Everything You Need to Know
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SoundExchange is making allies, and finding more money in the process.

On the heels of a partnership with ReverbNation, SoundExchange has now allied with iLike to further match details on smaller and mostly unsigned artists.  According to details shared by iLike founder Ali Partovi, a database matching effort has already rustled more than $8 million in found money for more than 8,000 artists.  “In the world of paying down royalties, SoundExchange is being remarkably proactive,” Partovi told Digital Music News in San Francisco.

So how will this partnership work?  SoundExchange is focused on recording royalties on digital and satellite streams, areas not pursued by iLike.  But this deal is not about direct royalty payments; rather, it involves database matching for artists that have uploaded their information onto iLike.  “Essentially, we’re acting on behalf of thousands of artists,” Partovi explained.  “They have money sitting in escrow, so no one was really benefiting.”

The next step involves sending checks to artists with positive matches, many of whom are in for a nice surprise ($1,000 or more in many cases).  But according to Partovi, the $8 million was just a first-run effort involving the smaller iLike database, and a broader initiative involving MySpace Music remains forthcoming.  “MySpace has a much larger database, so we’ll be unlocking even more money,” Partovi continued.

Report by publisher Paul Resnikoff in San Francisco.