MI2N
Music Industry News Network
WEDNESDAY, APRIL 1ST
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

Celebrating 10 Years Of Success And Community In The Midwest With Mindset Evolution

The Underground Presents PLANETROX China 2015

Dramatic New Solo Piano Album Represents Several "Firsts" For Award-Winning Artist Fiona Joy And Cookie Marenco’s Blue Coast Music Group

On Easter Sunday 2015, The Light Will Shine In The Darkness

Meresha - 1st Ever World Music Premier On The #1 Social Media Startup Tsu April 7

Legendary Stax Guitarist Steve Cropper And Rock Newcomer Matt Miller Make Beautiful Music Together

Taiwan's Bearbabes Answer "How To Love" With Upcoming Performances

Aleynu. New Video From LENKA LICHTENBERG Is Upon Us!



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» ICMP, CMPA And CMRRA Support SODRAC In Supreme Court Royalties Case
» Beatport Introduces Free Mobile Apps With Unlimited Streaming Music
» International Recording Artist "David Correy" Signs To 50/50 Music Group
» The Notionaries "Excited Eyes" VEVO Release Coming April 1st, 2015
» A Warmer Welcome To Big Business From EDM
» Ethan Kaplan Joins Gracenote As General Manager Of Music
» Sound Designer And Editor Talks Business, Creativity, And Technology
» Deadline Extended For 2015’s International Music+Sound Awards
» J Metro Releases New Single "Magic"
» Bangtower Producer Jon Pomplin Signs Endorsement Deal With Conquest Sound USA


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

Articles
MUSICDISH E-JOURNAL
» Inside All That Matters: John Cappo, CEO, AEG China
» Inside All That Matters: Shen LiHui, Founder, Modernsky Entertainment
» Rock In Rio Teams With Fanstang To Stream Festival In Mainland China And Integrate Chinese Music Into Future Shows
» Inside All That Matters: Marc Vincent, President, Sennheiser Greater China
» Inside All That Matters: John Cappo, CEO, AEG China
» Inside All That Matters: Shen LiHui, Founder, Modernsky Entertainment
» Inside All That Matters: Marc Vincent, President, Sennheiser Greater China
» ReverbNation And SESAC To Nurture Emerging Artists
» Veteran Chinese Rocker Wu Tong Presents "Song Of The Sheng"
» Inner-Mongolian Indie Band Ajinai's World Tour Launches In Toronto
» 26th Annual Golden Melody Awards & Festival
» Toyota 'Feeling The Street' Global Street Music Campaign

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.