SOCAN (Society of Composers, Authors and Music Publishers of Canada) says it saw a significant year-over-year increase in digital royalties for members as the Canadian music industry gradually emerged from pandemic restrictions, but that not all creators are benefiting.
SOCAN’s annual report, reflecting 2022 data, indicates digital collections continued their upward trajectory nearly surpassing traditional broadcast revenue. Total collections from use of music on the internet increased 24% year-over-over to $167M, with reproduction rights climbing 35% in the same period to $15M.
Total collections of $484-million, were up 16% over 2021. Domestic collections accounted for $373M of that, up 20% year-over-year, while international sources rose just 3%, accounting for $110M in royalties. At the same time, the not-for-profit says it was able to decrease its expense to revenue ratio to 11.7%, a full percentage point less than 2021.
SOCAN says not all creators are gaining from the increase in digital royalties, with Canadian music creators not receiving the same visibility in digital spaces, compared to traditional outlets like radio, noting that domestic royalty distributions to Canadian SOCAN creators have fallen by 9% over the past five years due to digital revenue outpacing traditional sources.
“SOCAN’s member-centric strategy to maximize royalties and revolutionize our service for our members is taking positive effect,” said CEO Jennifer Brown, in a release. “There continue to be strong headwinds for Canada’s music creators and publishers, but SOCAN is doing its part to benefit from the impact of digital forces by identifying and collecting new licenses around music uses and by advocating for government policy changes. Bill C-11 was an important step in supporting and promoting Canadian music in the digital space.”
SOCAN saw 6,000 new members join the organization in 2022, bringing its numbers to a record 185,000 Canadian music creators and publishers.
Subscribe Now – Free!
Broadcast Dialogue has been required reading in the Canadian broadcast media for 30 years. When you subscribe, you join a community of connected professionals from media and broadcast related sectors from across the country.
The Weekly Briefing from Broadcast Dialogue is delivered exclusively to subscribers by email every Thursday. It’s your link to critical industry news, timely people moves, and excellent career advancement opportunities.
Let’s get started right now.