MI2N
Music Industry News Network
SUNDAY, MAY 29TH
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

John Keenanís New Album, "The Illusion Of Logic" All Set To Make Buzz In June

Rachel Espendez Releases Her Spin On Shawn Mendes' Pop Hit Song "Stitches"

Colectivo Bunka Worldwide Releases USB Vol. 6th Special Anniversary Edition

Registration Closing For 21st Annual USA Songwriting Competition

"Live & Die": Alessandro Bagagli Announces His New Album Out June 10, 2016

Jazz & Beyond Reinterpretation Of Pink Floyd's The Dark Side Of The Moon

Indie Folk Artist Releases Cancer Tribute



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Universal Audio And Fender Musical Instruments Announce Development Partnership
» Emerald City Glistens Like A Gem With Beautiful New Studio By Carl Tatz Design
» Insomniac Launches New Underground Brand, Factory 93 With Debut Warehouse Show In Downtown Los Angeles
» Utor Goes Global With Snapchat
» FULLEE LOVEíS SINGLE "SURFBOARD CALI" CONTINUES ITS MOMENTUM WITH 105 RADIO ADDS, 58 IN ROTATION, WHILE CONTINUING ITS STEADY PACE
» Dominic Pandiscia Appointed CEO Of PledgeMusic As The Leading Artist-to-Fan Platform Embraces Growth And Expansion
» Bandzoogle Releases Powerful Theme Design Customization Tools
» TAMC - The Asia Music Conference
» Ep 'Undeniable' On Target For Hot Summer Drop
» Billy Ray Cyrus Joins List Of Artists Standing Up Against Anti-LGBT Bills


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

Articles
MUSICDISH E-JOURNAL
» Syndney Singer Rainbow Chan Guest DJ On China's Kanjian FM
» Brownswood Launches Second "Future Bubblers" Music Discovery Program
» MusicDish Yaogun Adds Chinese Rock On Colectivo Bunka USB Vol. 6th Asia Music Compilation
» Kobalt Offers Creators Real-Time Earnings & Data Reporting
» New Online Ticketing System In Hong Kong Offers Enhanced User Experience And Lower Promoter Fees
» Ryan West Video Shows How To Add 'Transformer Color' In A Mix
» Tou-JAM Presents Legendary DJ Scratchy
» AdShare Appoints June Zhan Head Of New Taiwan Office
» CMA Research Shows Country Music Consumers Spend More On Music
» Dippso.com Blurs The Line Between Search & Streaming
» Nominations Now Open For 2017 She Rocks Awards
» Planetrox China 2016 Semi-Final

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.