The new figures represent a seven percent increase year-over-year.
The Society of Composers, Authors and Music Publishers of Canada (SOCAN) collected $330 million ($249.3M USD) in total revenues for its fiscal year, ending Dec. 31, 2016, it was announced at its Annual General Meeting in Montreal this afternoon. The figure is a seven percent year-over-year increase. The PRO said it recorded “new highs on almost every front.”
More than $289 million ($218.3M) in combined domestic and international royalties were distributed to SOCAN members, up 5 percent from 2015, and “exceeding $285-million for the first time ever,” it stated.
Sixty-seven million ($50.6M USD) in foreign royalties, a 31 percent increase since 2013, from its members’ music played internationally on radio, television, online, on-stage and in other public performance uses.