Traxsource to pay out withheld mechanical royalties
We were pleased to announce at the ADE Transparency Panel on Wednesday 14th October 2015 that we will be paying back any extra money previously withheld for copyright royalty payments to every label and artist we’ve worked with in our 11-year history. We will pay back 20% of every dollar withheld since 2009 by the end of 2015 and moving forward, we will reduce the withholding rate to 8.3% immediately for all sales beginning October 1st 2015.
It’s certainly something we are very proud of, as house music is in our blood. First founded by sound engineer and musician Marc Pomeroy and club DJ Brian Tappert in October 2004, Traxsource was one of the world’s first digital music retailers. Originally conceived as an outlet to sell releases for Marc and Brian’s own record label, Soulfuric, the website is now home to more than 20,000 labels and a staggering 250,000 artists.
We are extremely happy to finally be in a position to reduce our mechanical withholdings and provide partial refunds to our partners. Our ultimate goal continues to be to do everything possible for the benefit of rights holders and content providers equally.
• Traxsource: Who we are
• Official Press Release: