SOCAN, the not-for-profit body representing Canadian songwriters and composers, expects to surpass a record-breaking $416 million in annual collections for licensed music in 2021.
At the same time, SOCAN says that writer members who earned royalties last year earned an average of $67.14 from domestic digital sources for the entire year.
New information comes from a SOCAN blog post detailing the unofficial financial highlights for 2021. SOCAN cited expected total collections of $416 million, a six percent increase over 2020. For domestic collections, SOCAN expects $310 million, also up six percent over the previous year. $135 million in collections came from internet use of music.
Moreover, SOCAN notes that it welcome 6,743 new members in 2021 and a total of 273,646 songs and compositions were registered with the organization in 2021.
“Given the challenges of the pandemic, at the end of 2020 we prepared for a financially austere 2021,” said SOCAN CEO Jennifer Brown in the blog post.
“Thanks to a combination of more music being consumed in Canada and worldwide, and the diligence and commitment of our nearly 280 employees – working tirelessly to uncover and collect domestic and international music licenses – we were able to bring in more than ever for our nearly 180,000 members, for their incredible and invaluable work.”
Finally, SOCAN says it’s “cautiously optimistic” for 2022, hoping for the return of in-person events and concerts as countries emerge from the pandemic.
Header image credit: SOCAN