SOCAN Celebrates Centennial with Milestone Half-Billion Dollars Distributed

SOCAN announces that in 2024, total royalty distributions to music creators and publishers hit a record-high $ 512.4 million. Similarly, annual revenue from music licenses once again exceeded half a billion dollars. The results are bittersweet for the member-owned, not-for-profit, as SOCAN data shows less than 10% of music consumed online in Canada is written or composed by Canadians. Revenue grew to $ 559.4 million in 2024, a 7% increase over 2023. Revenue from music uses that took place in Canada increased by $ 18.1 million to a high of $ 421.6 million. The increase is led by revenue from digital sources, totalling $ 208.7 million, a 10.8% year-over-year increase, and General Licensing and Concerts increasing 15%. Revenue from music uses in international territories increased an impressi...