Led by Internet audio streaming, SOCAN sets new revenue, distribution records for 2016

TORONTO – The success of Canadian music creators like The Weeknd, Drake and Alessia Cara helped to drive huge increases in music streaming revenues for 2016, according to the Society of Composers, Authors and Music Publishers of Canada (SOCAN).The performing rights organization said Tuesday that it set new records last year for the royalties identified, collected and distributed to its more than 150,000 members. SOCAN’s total revenue of approximately $330 million was 8% higher than the $310 million posted in 2015, while distribution to members exceeded $285 million for the first time ever.Domestic revenue of nearly $265 million was up...