SoundExchange is a non-profit, performance rights organization (PRO) established by the Recording Industry Association of America (RIAA). It was originally a division of the RIAA and later spun off as an independent entity SoundExchange negotiates and administers licenses and royalties for the public performance of the sound recording for digital transmissions, such as satellite radio and Internet radio. SoundExchange represents record companies, featured musicians and performers, and other copyright holders of sound recordings.