Market Overview

SOCAN and SODRAC Announce Integration of Music Rights Management in Canada

Share:

SOCAN and SODRAC Announce Integration of Music Rights Management in Canada

Canada NewsWire

Full expansion into music reproduction rights adds strength
to Canada's largest music organization

MONTRÉAL and TORONTO, July 31, 2018 /CNW/ - Both organizations announced today that SOCAN's acquisition of SODRAC has closed, enabling SOCAN to offer an integrated approach to the management of both performing rights and reproduction rights of songwriters, composers and music publishers.

The combination of SOCAN (the Society of Composers, Authors & Music Publishers of Canada) and SODRAC (the Society for Reproduction Rights of Authors, Composers & Publishers in Canada) is a historic moment for music rights in Canada, and broadens the choices available, notably for music publishers and self published writers for the licensing of the reproduction right.

For the first time in Canada, a single organization – SOCAN – will be able to license, track and distribute all royalties for both music performing rights and mechanical rights.

A transition period will result in the full integration of the organizations. Efficiencies in overhead expenses and operations will be sought and ultimately passed along for the benefit of members.

"SOCAN is thrilled to complete a made-in-Canada solution for music rights holders in this country and worldwide," said SOCAN CEO Eric Baptiste. "This transaction fits perfectly with SOCAN's goal of leading the global transformation of music rights, and SOCAN's past and ongoing commitment to create alliances within the Canadian music ecosystem. With the full integration of SODRAC's assets and expansion into mechanical rights, the combination of public performance and reproduction rights increases efficiencies, leverages licensing relationships, and reduces operating costs, resulting in even more music royalties going to those who have earned them."

"The integration of SODRAC into SOCAN is the result of many years of discussions and negotiations," said Lise Aubut, Chair of SODRAC's Board of Directors and co-founder of SODRAC in 1985. "Today, this concentration of energy and resources has become essential in a context where markets are globalized, copyright media is dematerialized, and the financial means necessary to defend rights in a digital world are prodigious. Music is borderless, and tracking musical works requires cutting-edge technology that provides services to a large number of music rights-holders and users."

The integration of the management of public performance rights and reproduction rights will have many advantages, including:

  • One-stop musical works registrations.
  • More timely and accurate distributions and reduced operating costs for all rights holder members.
  • Unified licensing for businesses using music.
  • An a la carte representation of reproduction rights for all.
  • Increased efficiencies through leveraged licensing relationships.

SODRAC's expertise in the visual arts and crafts sector, which involves more than 40,000 creators and rights holders, will continue within SOCAN.

SOCAN and SODRAC teams are hard at work to bring the companies together harmoniously. SODRAC's management team and employees will become employees of SOCAN. SODRAC's current General Manager Alain Lauzon will continue his work as a special consultant to SOCAN's CEO.

With SOCAN's innovations and acquisitions, including SODRAC, no music rights organization in the world has such a comprehensive ability to monitor, collect and distribute royalties for music rights-holders. SOCAN is proud to offer an expanded suite of services to digital service providers, music creators and music publishers, benefiting its members and positioning the company as the world leader in the digital music age.

SOCAN continues to power many facets of the Canadian music industry, looking for opportunities to lead the global transformation of music rights, providing leading-edge services to music rights holders. In 2016, the organization launched its Royalty Guru service and API portal, acquired Seattle-based MediaNet and New York-based music technology company Audiam.

About SOCAN
SOCAN is a rights management organization that connects more than four-million music creators worldwide and more than a quarter-million businesses and individuals in Canada. More than 150,000 songwriters, composers, music publishers and visual artists are its direct members, and more than 100,000 organizations are Licensed To Play music across Canada. With a concerted use of progressive technology and unique data as well as a commitment to lead the global transformation of rights management, with wholly-owned companies Audiam and MediaNet, SOCAN is dedicated to upholding the fundamental truths that music and visual arts have value and creators and publishers deserve fair compensation for their work. For more information: www.socan.com

SOURCE SOCAN

View original content: http://www.newswire.ca/en/releases/archive/July2018/31/c7035.html

View Comments and Join the Discussion!