Canadian music rights bodies SOCAN (the Society of Composers, Authors & Music Publishers of Canada) and SODRAC (Society for Reproduction Rights of Authors, Composers and Publishers in Canada) are actively discussing the possibility of combining operations.
In a joint statement, the organizations said that any prospective merger would carry “the aim of creating an integrated approach to the management of both performing rights and reproduction rights of songwriters, composers and music publishers”.
They added that the move was ‘a proactive response to the transformation of the markets and modes of consumption of music’.
‘The integration of the management of public performance rights and reproduction rights could have many advantages and would reduce operating costs for rights holder members of each organization, and promises to increase efficiencies, leverage licensing relationships, and reduce operating costs, resulting in even more money to go to those who have earned royalties for their music and streamlined licensing for businesses using music,’ read a press release.
It added: ‘For the time being, the talks are productive and suggest that, subject to the approval of both boards, an agreement could be reached in the near future.’
SOCAN (CEO Eric Baptise pictured) boasts nearly 150,000 songwriters, composers and music publishers amongst its direct members.
According to new preliminary figures from the organization, SOCAN took in approximately CAN $330m (US $250m) in overall revenue in 2016, while distributing over CAN $285m (US $215m) to members.
It acquired two businesses last year, Medianet and Audiam, with an eye on providing mechanical rights collection services.Music Business Worldwide
