Perhaps we should start asking some pointed questions to any collecting society or label that *isn’t* announcing record royalties and/or payouts. New milestones are being set by the week in 2019, it seems.
Canadian collecting society SOCAN is the latest example. In 2018 it paid out $320m to its members, representing 8% year-on-year growth, although its collections increased by more: up 11% to $375m. Within this, digital sources saw revenues grow by 29% to $63m for SOCAN last year.
CEO Eric Baptiste offered a warning at the society’s annual meeting, however. “The popularity of music streaming continues to increase, but a SOCAN member who received royalties in 2018 on average took in only $54 from digital sources,” said Baptiste. “Digital platforms are reaping massive value on the backs of music creators and publishers. SOCAN will continue to fight for a more equitable and fair compensation for rightsholders as this part of the industry matures.”
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…