In reaching the high-water mark of paying out $300 million to its clients since the company’s inception, TuneCore claims that company revenues have grown to $50 million in the first five months of 2013, representing a 20% growth over the $42 million the company generated in the first five months of 2012.

The company noted that streaming is growing at a phenomenal rate, and said that cumulative streams and downloads now exceed over 3 billion units as compared to the 1.8 billion counted through the end of December 2012, while payouts grew from $250 million. However, the company did not break out streams versus downloads.

“Hitting this $300 million earnings milestone is something to be celebrated, and we congratulate all our TuneCore Artists,” TuneCore COO Scott Ackerman wrote in a statement. “TuneCore’s mission has always been about giving all artists the opportunity to easily and affordably get their music heard anywhere in the world and receive 100% of the revenue from the downloads and streams of that music.”

Tunecore charges artists an introductory album fee of $29.99 for the first year, and $49.99 each following year. [Billboard.biz]