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Toronto, June 26, 2023 – As the Canadian music industry gradually emerged from pandemic restrictions, SOCAN saw significant year-over-year increases in collections from music licenses for the use of the world’s music in Canada. Digital collections continued their upward trajectory nearly surpassing traditional broadcast revenue, and collections from concerts exceeded pre-pandemic levels.
- Total collections: $484-million – a 16% increase over 2021.
- Total domestic collections: $374-million (+20% year-over-year).
- Total collections from use of music on the internet: $167-million (+24% year-over-year).
- Reproduction Rights collections: $15-million (+35% year-over-year).
- Total collections from international sources: a 3% increase to $110-million.
The not-for-profit company was able to increase collections while decreasing its expense to revenue ratio to 11.7% – a full percentage point less than 2021.
With nearly 6,000 new members joining SOCAN in 2022, totaling over 185,000, more Canadian music creators and publishers are earning royalties than at any time in history. It is more important than ever to support their work as a vital part of our national culture and pride.
While increased collections result in more royalties paid overall, we are seeing that not all creators are benefiting from the increase in digital royalties. Canadian music creators are not receiving the same visibility in the digital spaces when compared to traditional spaces like radio.
The discrepancy is significant. In fact, SOCAN domestic royalty distributions to Canadian SOCAN creators decreased by 9% over the past 5 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 SOCAN CEO Jennifer Brown. “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’s 2023 annual report is available here.
About SOCAN
SOCAN is a rights management organization that connects more than four-million music creators worldwide and more than a quarter-million businesses and individuals in Canada. More than 185,000 songwriters, composers, and music publishers are its direct members, and more than 100,000 organizations are Licensed To Play music across Canada. With a concerted use of progressive technology and unique data, SOCAN is dedicated to upholding the fundamental truth that music has value and creators and publishers deserve fair compensation for their work. For more information: www.socan.com
Media contact: Nicole Van Severen, nicolevanseveren@socan.com