However, there is an added complexity to this arrangement; the USA does not recognize neighboring rights by law, so collecting them can be more difficult. However, a quick Google search of ‘does soundexchange collect neighboring rights’ will show you that there are organizations working to combat this problem.
Soundexchange neighboring rights collect royalties on streamed songs on behalf of the artists, although they call it ‘digital performance royalties,’ rather than neighboring rights. It can only be collected from digital radios, online streaming, etc., meaning that music being played in bars and cafes is still exempt from paying royalties.
There is a similar arrangement in the UK, with Kobalt neighboring rights being a subsidiary of the overall Kobalt company. Kobalt explain the concept of neighbor rights and why it is important for countries to come to agreements about them; many US artists cannot claim neighboring rights even in countries which pay them, because the USA does not. This makes for a very complicated legal situation, and leaves US artists and record labels unable to benefit from platforms which are using their music to make money.