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Business News (more headlines) 04-17-2017

SOCAN And SODRAC Seeking Integrated Management Of Music Rights In Canada

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SOCAN and SODRAC announced that the two organizations are actively discussing the possibility of combining operations with the aim of creating an integrated approach to the management of both performing rights and reproduction rights of songwriters, composers and music publishers.

This initiative by SOCAN (the Society of Composers, Authors & Music Publishers of Canada) and SODRAC (Society for Reproduction Rights of Authors, Composers and Publishers in Canada) is a proactive response to the transformation of the markets and modes of consumption of music.

The integration of the management of public performance rights and reproduction rights could have many advantages and would reduce operating costs for rights holder members of each organization, and promises to increase efficiencies, leverage licensing relationships, and reduce operating costs, resulting in even more money to go to those who have earned royalties for their music and streamlined licensing for businesses using music.

For the time being, the talks are productive and suggest that, subject to the approval of both boards, an agreement could be reached in the near future.

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