MI2N
Music Industry News Network
SATURDAY, APRIL 25TH
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

Let's Rock This Game! Music Marathon Rocks China

Aminita Satori Releases "Where Language Fails" As Intellectual Stoners Rejoice

"Musicians At Play" Foundation Debuts With First Concert - "The Vintage Masters Of Swing" Headlines The Broad Stage In Santa Monica On June 13th

Chinese Rockers Second Hand Rose To Perform Paleo Festival, One Of Europe's Largest Music Events

ArtistMax To Present Three-Day Artist Development Sessions At LAs Legendary Village Studios

Piece Of The Rack: Eventide H3000 Factory Plug-In $150 Off

IQzic Music Discovery Platform Now Open To All

Eventide Announces H9 Max Spring Giveaway



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» IFPI Publishes Digital Music Report 2015
» IConnectivity Releases IConnectAUDIO4+
» UMG And Class Action Attorneys Propose Settlement Agreement On Digital Download Royalties
» CMT Announces Plans To Produce Its First-Ever Music Video For An Artist
» Fair Play Fair Play Act Introduced To Address Musician And Label Compensation
» Outline Names Luca Giaroli Business Development Manager
» Overstock.com Rocks Style With Live Bret Michaels
» The 20th Annual USA Songwriting Competition Accepting Entries
» Through Trials And Tribulations, New York Rock Outfit THE ROYAL GUARD Set To Debut Powerful Sophomore Album
» Canadian Singer/Songwriter Billy Grima Signs With MTS Management Group


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

Articles
MUSICDISH E-JOURNAL
» INTRO Electronic Music Festival: Interview With DJ Weng Weng
» VUE Audiotechnik Establishes VUE China
» March 28, 2015: A Black Day For Yaogun (Chinese Rock)
» 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"

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.