TORONTO – SOCAN, a Canadian rights management organization, announced today its total annual collections for 2021 for licensed music are estimated to be over $416 million for the first time in its history.
The previous record was $405.6 million and was set in 2019, according to a press release.
The $416 million in 2021 includes an estimated $310 million in domestic collections and $106 million in international collections. Total collections from Internet use of music are estimated to be $135 million.
“When compared with 2020 collections of $391-million, the company attributed most of the $25 million year-over-year growth to $135 million collected for the use of music on digital platforms – an increase of $32 million over 2020,” the release says.
“This more than offset the pandemic-driven downward pressure on General Licensing (primarily background music used in public spaces) and Concerts (music performed live), having decreased 70% from pre-pandemic levels.”
“Given the challenges of the pandemic, at the end of 2020 we prepared for a financially austere 2021,” said SOCAN CEO Jennifer Brown.
“Thanks to a combination of more music being consumed in Canada and worldwide, and the diligence and commitment of our nearly 280 employees – working tirelessly to uncover and collect domestic and international music licenses – we were able to bring in more than ever for our nearly 180,000 members, for their incredible and invaluable work.”
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