TORONTO – Canada emerged as an even greater powerhouse of songwriting, composing and music publishing on a global level in 2015 with domestic and international creative success on virtually every level, according to the Society of Composers, Authors and Music Publishers of Canada (SOCAN).
The performing rights organization said Monday that it set a new high for royalties identified, collected and distributed to its more than 130,000 members. SOCAN’s total revenue of approximately $310 million was at least 3% higher than the $299 million posted in 2014, and marked the first time in the organization's history that it has exceeded the $300 million milestone.
At least $62 million in foreign royalties was identified, collected and distributed for members whose music is played internationally on radio, television, online, on-stage and other public performance uses, representing a 14% increase over 2014, and a 60% increase since 2007.
In addition, the total royalty distributions to members increased 15% year-over-year to approximately $275 million.
"When we think of Canada's music creators we naturally think of stars like The Weeknd, Andrew Lockington, Drake, Grimes, MAGIC!, Christine Jensen, Luc Plamondon, Coeur de Pirate and Stephan Moccio, and indeed these SOCAN members have truly earned their stature", said SOCAN CEO Eric Baptiste, in the news release. "But Canada's music creators and publishers are enjoying massive, collective success in virtually every area, whether hip-hop, alt-rock, country, EDM, roots and traditional, blues, soul, classical, jazz, film and television composing and other genres. What we are seeing now is a phenomena unprecedented in Canadian music history."
