MI2N
Music Industry News Network
FRIDAY, JANUARY 30TH
Advanced Search
MusicDish Advertising Network
Subscribe to Mi2N's Free Newsletters B2N (business) i2N (indie)
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Business News (more headlines) 02-01-2014

SOCAN 2013 Results Expected To Break Records

Bookmark and Share

Canada's music performing rights organization, SOCAN, is on track to set new records for revenue and distributions to member songwriters, composers and music publishers, as the company previewed highlight results for the 2013 fiscal year.

Among the preliminary(1) 2013 financial results for SOCAN - the Society of Composers, Authors and Music Publishers of Canada:

- A record year for total revenue, $276-million brought in for members, an increase of approximately nine per cent over 2012.
- International revenue of $51-million, the first time that SOCAN members have surpassed the $50-million mark for royalties originating from outside of Canada - an increase of eight per cent over 2012.
- A record $240-million was distributed in 2013 to members, a year-over-year increase of nine per cent (excluding years with extraordinary arrears payments to members).
- Internet streaming revenues of $3.2-million were distributed to members - another first.

"Like Canada's songwriters and composers themselves, SOCAN is increasingly leading and breaking records on the world stage," said CEO Eric Baptiste. "While our more than 120,000 members are creating music that is heard more than ever in virtually every corner of the globe, SOCAN is becoming even better at identifying just where those places are, bringing in those royalties, and paying those royalties out to those who deserve to be compensated fairly for their extraordinary work and talent."

Financial results have benefitted from SOCAN's long-term investments in technology, streamlining processes and overall improved efficiencies, while maintaining services. These changes will positively impact future results by lowering overhead expenses and increasing distributions to members.

Despite the negative impact of an unusually strong Canadian dollar in recent years, the increase in international royalties in 2013 continues the positive trend since 2007 that has seen royalties surge from $39-million in 2007 to $47-million in 2012 and now $51-million in 2013, with the number of SOCAN-member songwriters, composers and music publishers who receive royalties from outside of Canada more than doubling.

"There's more music played in more places in more ways than ever before," Baptiste added, "and SOCAN is working harder than ever for our members. Our 2013 results are a prime example of SOCAN's continuing commitment to raising the bar for music rights. While more work is required in certain areas, including the need to address ongoing legal uncertainties relating to the use of music on the Internet, we hope that upcoming Copyright Board decisions will affirm the rights of our members and result in royalty increases for those uses."

Last year SOCAN surpassed the 120,000 milestone for total number of members. The organization also reported that total number of businesses licensed to play music legally and ethically numbered more than 125,000. SOCAN expects to release its complete 2013 financial report this spring.

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

AIRPLAY DIRECT SETS NEW GLOBAL STANDARD FOR DIGITAL DELIVERY TO RADIO IN 2015

JEFFERSON THOMAS "COMES ALIVE"

MarilynMusic Welcomes You To A Creative And Fruitful 2015

The Beijing Underground Showcase No1

"An Afternoon Of Artist Development" With Appearances And Panels With GRAMMY®-Winners Colbie Caillat And Toby Gad To Be Held In Anaheim

IQzic Music Discovery And Funding Platform Announces January 26th Launch

Cosmpolitan Country Artist, Rhea Francani, Releases Debut Single "Dizzy" To World Market January 20, 2015

Chinese Singer Ruhan Jia Heads To Paris To Introduce Her Album "Smile"



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Shazam Announces $30 Million Investment At $1 Billion Valuation
» Back To The Future Sounds: Moog Recommences Manufacturing Large Format Modular Synthesizers
» Nettwerk Music Group Acquires Robot Of The Century Music
» Introducing: Uphoric, The Global Festival Television Network
» GIVE ME A BREAK Radio Our Guest Thom Bresh
» PledgeMusic Names Alissa Crevier To Global Head Of Brand
» New Parlor Guitars Website Launched
» MODEST MOUSE SET TO HEADLINE Tampa’s Gasparilla Music Festival 2015
» 10th Anniversary CD Reissue & First Time Vinyl Release Of The Landmark Pink Floyd Tribute Album Back Against The Wall!
» The Doobie Brothers To Receive Music Biz 2015 Chairman’s Award


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» Red Bull Music Academy Sessions Kicks Off China Tour
» Red Bull Music Academy Accepting Applications For Paris Academy
» Nasty 8-bit Zombie GUIGUISUISUI Begins 2015 Tour
» Hyphenics Presents Transmission At Shanghai's URVC
» Vintage King Launches "Make Your Mark" Video Series
» Music Therapy May Provide Hope To Alzheimer And Parkinson Sufferers
» Asia Society: Shanghai / New York: Future Histories
» Is Nashville's New "It" City Status Threatening Its Musical Roots?
» The Connect Sessions: An Extravaganza Presented By SPIN And Powered By Microsoft
» BMG Signs Worldwide Rights Management Deal With Chinese Music Company Giant Jump
» CMA Gives Snapshot Into Music Discovery Behavior
» How To Manage Your Talent: FIVE Realistic Tips For Success

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2015 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.