Canadian performing rights society SOCAN has released its preliminary year-end results for 2018, reporting an estimated $374 million in total revenues last year.
The record 2018 collection represents an 11% increase over the nearly $338m collected in 2017.
SOCAN’s preliminary figures also indicate that around $315m was paid to 160,000 member songwriters, composers and music publishers last year, an increase from $295m in 2017.
Other 2018 highlights included domestic revenue of $282m, an increase of 8% from the previous year’s record, and a 25% increase since 2013.
While royalties collected increased by 11%, SOCAN says that its operating expenses remained constant year-over-year.
SOCAN members also enjoyed sizable growth in their “export music” – music played internationally. Total 2018 international royalties are estimated to be least $87m, an increase of 15% over 2017.
SOCAN revenue from Internet-based licensed music in 2018 will total approximately $62m, an increase of 27% from approximately $49m collected in 2017.
“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.”
Eric Baptiste, SOCAN
“The consistently increasing number of Canadian music creators aspiring to make a living from their creative work is similar to the halo effect we see in other industries,” said SOCAN CEO Eric Baptiste.
“SOCAN member songwriters and composers like Alessia Cara, Alexandra Stréliski, Drake, Elisapie, Frank Dukes, Hubert Lenoir, Keith Power, Loud, Murda Beatz, Shawn Mendes, Tebey, The Weeknd and WondaGurl are excelling globally, and they inevitably inspire others to pursue their passion for creating music as a livelihood. A first step toward a serious career in music creation is to join SOCAN, so that you can get paid for what you’ve created.”
Baptiste added: “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.
“To put it in perspective, the average SOCAN member who earned royalties in 2018 realized only $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.”
With the acquisition of Canadian-based mechanical rights organization SODRAC in July 2018, SOCAN expanded its capabilities and offerings for music creators and publisher clients.
Also, in 2018, SOCAN launched Dataclef, the back-office services arm of the company.Music Business Worldwide