SOCAN estimates record-high annual collections for licensed music

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...