SoundExchange: Show us your numbers

Fred Wilhelms, an entertainment attorney based in Nashville, Tennessee, calling out SoundExchange:

You see, SoundExchange is a private, not-for-profit, organization. Other than some very fundamental and general numbers that they have to give the IRS every year to maintain their tax-free status, they don't have to tell anyone outside their boardroom *anything* about their finances.

• They don't have to tell anyone how much money really comes in.
  
• They don't have to tell anyone how much money they pay out to labels and artists, or how they decide who gets what.
  
• They don't have to tell anyone how many labels and artists are registered with them. This is actually funny, because the numbers keep shifting.
  
• They don't have to tell anyone what their operational budget is, or how that money gets spent.
  
  

That's just a little part of the article. The whole piece points out that the rhetoric from SoundExchange is unfounded, and the numbers they're throwing around aren't even consistent.

Give it a read.