SOCAN says streaming royalties paid to music creators remain low while collections top $405 million

TORONTO — For the first time in its history, SOCAN’s total annual collections exceeded $400 million, with an estimated $405.5 million collected in fiscal year 2019 on behalf of its members. This is an 8% increase over SOCAN’s previous record of $375 million collected in fiscal year 2018. SOCAN (the Society of Composers, Authors and Music Publishers of Canada) attributed most of the growth to an increase of approximately $23 million in collections from digital sources, as well as an additional $7 million from reproduction rights collections, following SOCAN’s 2018 acquisition of Montreal-based SODRAC (the Society for Reproduction Rights of...