MI2N
Music Industry News Network
MONDAY, JULY 28TH
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

MusicDish*China Top 5 Indie Song Chart 07/12-07/18/2014

MusicDish*China Booking Second China Tour For French Jazz Singer Clotilde Rullaud

Longreef, Friend Movement And Abijack Management Join Forces For Launch Of Powerful "Battle Plan" Single And Video

MISSING LINK MUSIC ON ED SHEERAN'S #1 ALBUM

Chaz DePaolo Live: One Night In IONA

Maybe Mars Presents: The XP Sound Vol.1

CONVICTS TAKE ON CONGRESS

Da Phatfunk Clique Releases More Funk Jazz On The Violin!



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» HFA Facilitates Publisher Outreach For Music Recording Platform, Pure Solo
» Senzari Unveils MusicGraph.ai At The GraphLab Conference 2014
» New York Factory Fast Records Releases Fourth Sampler On #VirtualVinyl Format.
» BLACKHOLE FILMS LAUNCHES "COMING YOUR WAY" MUSIC VIDEO
» Clear Channel's IHeartRadio Partners With AdsWizz To Monetize Its Digital Audience
» Pandora Hires Lars Murray As Vice President Of Industry Relations
» FM Pilots Skyrockets To Top Of MusicDish*China Indie Song Chart
» The Association Kreyol Vibrations Presents CARIMEX (Caribbean Islands Music Exposition)
» Guitar Hero Tommy Bolin's First Band Zephyr To See 1969 Debut Album Reissued On Both CD & Vinyl
» Music Legends Jon Anderson And Jean-Luc Ponty Announce Formation Of New Music Ensemble - The Anderson Ponty Band!


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

Articles
MUSICDISH E-JOURNAL
» FM Pilots Skyrockets To Top Of MusicDish*China Indie Song Chart
» Zebra Music Festival (Shanghai) Ticket Giveaway Winners
» MusicDish*China Top 5 Indie Song Chart 07/12-07/18/2014
» Temple Bar 3 Year Anniversary
» Zebra Music Festival (Shanghai) Announces Headlining Acts (Chinese Version)
» Raising Our Voices For Fennie: Benefit Concert Zajia Lab, July 13
» Raising Our Voices For Fennie: Benefit Concert Zajia Lab, July 13 (Chinese Version)
» KANO Premiere At New York Asia Film Fest (Chinese Version)
» Over 90% Of Adults Support The Provision Of Music In Schools
» Why Branding Is More Important Than Ever
» Executive Wach: Tracktion Software Corporation, Liberace Foundation, McNally Smith College Of Music, SPIN, WSOU, Guitar Center
» "Overheard 3" And "Golden Chickensss" Took The Stage At New York Asian Film Festival (Chinese Version)

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 © 1997-2014 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.