Canadian music achieves worldwide success in 2018 with royalties increasing 15% over the previous year according to SOCAN, the Canadian rights management organisation. The company announced preliminary year-end results showing that it brought in and paid out record royalties to more members than ever, with combined domestic and international collections rising above 2017 figures by at least 11%.
SOCAN members once again enjoyed sizable growth in their ‘export music’ – music played internationally. Total 2018 international royalties are estimated to be least CAN$87million, an increase of 15% over 2017. In addition to the widespread global success of Canadian music creators, SOCAN credited pioneering technology and devoted SOCAN International Relations, Membership, Licensing and Distribution teams for securing markedly better returns for its members.
According to preliminary financial results for 2018, SOCAN’s total royalties collected for its nearly 160,000 member songwriters, composers and music publishers rose to 11% due to long-term investments in leading-edge technologies, strategic acquisitions and mutually beneficial partnerships.
SOCAN 2018 preliminary numbers
- CAN$374million in total revenues – a new record, and an 11% increase over the nearly CAN$338 million collected in 2017
- CAN$315 million distributed to SOCAN members, an increase from CAN$295 million in 2017
- Domestic revenue of CAN$282 million, an increase of 8% from last year’s record, and a 25% increase since 2013.
Royalties from non-Canadian sources are top revenue stream for SOCAN members, reflecting the incredible strength of Canadian talent and SOCAN’s repertoire – a 70% five-year increase.
Despite the continued increase of digital royalties from the rising popularity of online businesses that use music, SOCAN again called for a more equitable share for music creators and publishers. SOCAN revenue from Internet-based licensed music in 2018 will total approximately CAN$62 million, an increase of 27% from approximately CAN$49 million collected in 2017.
SOCAN CEO Eric Baptiste, said, “While overall revenues from digitally-delivered performances of music continue to climb, music creators and publishers on average are yet to see earnings commensurate with the value that their work brings to these online corporations.”
Baptiste added, “To put it in perspective, the average SOCAN member who earned royalties in 2018 realized only CAN$54 from domestic digital sources in the entire year. This has to improve and SOCAN is working tirelessly to ensure our members actually receive what they have fairly and deservedly earned from their extraordinary work.”
SOCAN is a Canadian rights management organization that connects more than 4 million music creators worldwide and more than a quarter-million businesses and individuals in Canada. Nearly 160,000 songwriters, composers, music publishers and visual artists are its direct members, and more than 100,000 organizations are Licensed To Play music across Canada.
