Unofficial financial data indicates continued international and digital growth, although average total streaming royalties are only $67.14
TORONTO, March 31, 2022 /CNW/ – Despite challenges in 2021 as a result of the COVID-19 pandemic, for the first time in SOCAN’s history, SOCAN’s total annual collections for licensed music are expected to exceed $416 million, an increase of 3% compared to the previous record of $405.6 million fixed in 2019.
Compared to the 2020 collections of $391 millionthe company awarded most of the $25 million year-over-year growth $135 million collected for the use of music on digital platforms – an increase of $32 million over 2020. This more than offset the pandemic-driven downward pressure on general licensing (primarily background music used in public spaces) and concerts (music performed live), which were down 70% from compared to pre-pandemic levels.
Despite the continued positive growth of digital music licensing and the popularity of online streaming services, a SOCAN member writer who earned royalties in 2021 earned on average only $67.14 from national digital sources for the whole year.
Revenue from international sources continued to show strength at the historically high level of $106.1 milliondemonstrating once again that Canadian music creators and publishers continue to outperform globally.
International music licensing collections have been boosted by the growing popularity of digital music platforms and the strength of SOCAN’s membership overseas.
“Given the challenges of the pandemic, at the end of 2020 we have prepared for a financially austere 2021,” said SOCAN CEO Jennifer Brown. “Through a combination of more music consumed in Canada and around the world and the diligence and commitment of our nearly 280 employees working tirelessly to discover and collect national and international music licenses, we have been able to bring more than ever to our nearly 180,000 members for their incredible work and priceless.”
Unofficial SOCAN 2021 Financial Highlights:
Total collections: $416 million (6% increase compared to 2020).
National collections: $310 million (+6% YoY).
Total collections from internet music use: $135 million.
Solid results in reproduction rights with digital audiovisual more than doubling, synchronization up 37% and international revenue up 32% compared to 2020.
International collections: increase of 6% to $106 million.
Gross expenditure: less than 1% increase compared to 2020.
SOCAN welcomed 6,743 new members in 2021.
A total of 273,646 songs and compositions registered with SOCAN last year.
SOCAN remains cautiously optimistic for 2022 about the return of in-person events and concerts as Canada and the rest of the world are emerging from the two-year COVID-19 crisis.
Along with the continued popularity of digitally delivered music, the steady growth of SOCAN’s reproduction rights, the conclusion of various agreements with several major platforms, the addition of the mechanical audio-visual distribution right, as well as the prospect of adoption of the federal government’s Streaming Act to help safeguard the future of Canadian music, all of this bodes well for continued positive results for from Canada music creators, publishers and visual artists.
 Estimates. Final numbers will be released in conjunction with SOCAN’s online Annual General Meeting in June 2022.
SOCAN is a rights management organization that connects more than four million music creators worldwide and more than a quarter of a million businesses and individuals worldwide. Canada. Over 175,000 songwriters, composers, music publishers and visual artists are its direct members, and over 100,000 organizations are licensed to play music through Canada. With a concerted use of progressive technology and unique data, and a commitment to lead the global transformation of rights management, SOCAN is committed to upholding the fundamental truths that music and the visual arts are valuable. . and creators and publishers deserve fair compensation for their work. For more information: www.socan.com
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