MI2N
Music Industry News Network
WEDNESDAY, NOVEMBER 22ND
Advanced Search
MusicDish Advertising Network
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

Hybrid Studios To Sponsor Unsigned Only 2018

Twice The Holiday Feel-Good Vibe From NYC Indie Rockers

LOVE MY COUNTRY! Is The Ultimate Compilation Series Featuring 20 Hot New Hits

Getting Restless

Your Favorite Color Releases "Heartache"

Melvin Alan Album "Wonderful Life"

Jean Louisa Kelly Presents A Personal Collection Of Songs From The American Standards And Musical Theater



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Kobalt Capital Closes Second Music Royalties Fund With $600 Million In Investment Capacity
» Rare 78rpm Records Are Being Digitized Using Prism Sound Titan Audio Interfaces
» Asylum Records Relaunched In U.S.
» Emiko Releases New Music Video Highlighting Survivors Of Sexual Abuse
» Billboard Single “God With Us” By CLARĒTA Haddon Gains Mainstream Radio Traction
» Jon Batiste Becomes Music Director Of The Atlantic
» Amazing Music Tracks - Free Music Licensing
» Rick Vines All Stars Travel To SPACE! Mon Dec 4th!
» LOVE MY COUNTRY! Is The Ultimate Compilation Series Featuring 20 Hot New Hits
» New Rock Band Cathedral Reign Recording New Music


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

Articles
MUSICDISH E-JOURNAL
» Joint Statement By The Nordic Musicians' Unions And British Musicians' Union
» Women Make An Impact On The 2018 MPG Awards Shortlist
» The Nashville Musicians Sound Healthcare Plan Rolls Out
» Streaming & Listening Diversity - Spotify Case Study
» Two-Sides Of Copyright Finance: Sound Royalties & Kobalt
» Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes
» Europe's Digital Music Leaders Form Alliance
» Pandora Subscriber Base Grows To Over 5 Million
» Hybrid Studios Announces Online Mastering Services
» Music Industry Betting On VR & AR For New Revenue
» Sound Royalties Unearths Millions In Undistributed Royalties
» MusicDish*China October China Label Music Releases And Charts

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 © 1997-2017 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.