SOCAN distributed over $348 million in royalties to members in 2020

TORONTO — Rights management organization SOCAN today announced it distributed more than $348 million in royalties in 2020 to its 175,000 members, who include music creators, music publishers and visual artists. Announcing its 2020 financial results in a press release, SOCAN said the total royalties distributed in 2020 represents a 10% increase over 2019. However, during the pandemic-impacted year, SOCAN saw an overall revenue decline of 4% “primarily as a result of 10 months without in-person concert revenue and the use of licensed recorded music in public,” says the press release. The revenue decline in 2020 was offset by increased...