Figures for 2016 are coming in thick and fast, with US performance-royalties body SoundExchange and Canadian collecting society SOCAN both announcing their payout stats yesterday.
SoundExchange saw its payouts grow by 10% to $884m in 2016, a new record for the 130,000+ artists and rightsholders in its distribution net.
As we reported earlier this year, there has been speculation about how SoundExchange’s collections will fall in 2017 due to Pandora’s direct deal with rightsholders, although the streaming service subsequently confirmed that its ad-supported tier’s payouts will continue to go through SoundExchange.
Meanwhile, SOCAN also reached a new high in 2016, with its revenues rising 8% year-on-year to $330m, with record payouts of $285m to its members.
SOCAN saw its music-streaming revenues jump by 460% in 2016, although at $13m they were less than 4% of its overall collections, and less than the $20m it collected from streamed TV shows and films.
Also note SOCAN’s growing global business: its foreign royalties have risen by 30% in the last three years, reaching $66m in 2016.