The Society of Composers, Authors and Music Publishers of Canada (SOCAN) announced that it collected C$330 million ($249.3 million) in 2016 total revenues. The result is up 7% from the previous fiscal year. More than C$289 million ($218.3 million) of that revenue was distributed to SOCAN members in combined domestic and international royalties. The distribution total rose 5% from 2015. Streaming revenue skyrocketed up 118% over the previous year, reaching C$33.8 million ($25.5 million). The group credited that sharp increase to strong growth with existing licensees and the entry of new platforms into Canada.
“These results further increase SOCAN’s position as one of the top music rights organizations in the world, that is shaping the music landscape,” CEO Eric Baptiste said. He also tangentially mentioned the ongoing efforts of songwriters to increase their compensation from digital music systems. “Like everyone, songwriters, composers and music publishers simply want fair compensation for their work. We are not there yet, and SOCAN will continue to fight every single day on their behalf.”