Online licensing and royalty processing organisation ICE has paid out more than €1bn (£907m) to music creators and publishers since its inception in 2016.
The company, which was founded by PRS for Music, Swedish collecting society STIM and German rights organisation GEMA, said the three-year growth was driven by expanding its core licences and processing services.
ICE currently licenses music owned by Sony/ATV, BMG and Warner/Chappell Music, among others.
Over the last three years, it has invested in technology and promoted industry-wide best practice on issues including royalty claiming and data management.
Thorsten Sauer, ICE chief executive, said: ‘Whilst this milestone represents a landmark for the industry in this digital era, we’re focused on continually improving the services we offer.
‘We are working to increase transparency and achieve even greater efficiency in getting money paid quickly and accurately to rightsholders.’
STIM chief executive Karsten Dyhrberg added: ‘The ICE hub provides our members with the best return for the use of their work internationally. The revenue from licences negotiated by ICE continues to grow and their scale and expertise means royalties are efficiently processed despite ever increasing data volumes.’
ICE offers a suite of services for publishers, rights management organisations and rightsholders, such as copyright administration and multi-territorial online processing and licensing solutions.
Its database holds more than 36 million pieces of music, representing the rights of over 290,000 creators and publishers.