SOCAN comments on CMRRA acquisition by SoundExchange

May 15, 2017

Driven by technology, globalization and changing rights-holders’ expectations, the world of music rights management is moving quickly. This has been evidenced by many recent announcements and transactions in the United States and elsewhere in the world, including the joint announcement by SOCAN and Montréal-based reproduction rights society SODRAC on April 5, 2017, that the organizations are in active and positive merger discussions. The news that the Canadian Musical Reproduction Rights Agency (CMRRA) has been acquired by SoundExchange is another example of this trend.

SOCAN wishes CMRRA only the best with its new owner.

We have a 90-year history of sound financial management, world-leading transparency and data management capabilities and ongoing growth of our membership, which is now approaching 150,000 members. SOCAN enjoyed another record-breaking year in 2016 in almost every financial aspect. Already, 2017 looks very strong.

The SOCAN Group has unrivalled data assets for the rights of creators and publishers via SOCAN’s unique, up-to-date, and consolidated view of North American songs, and the 66-million sound recordings with metadata and fingerprints housed at wholly-owned subsidiary MediaNet. We already have reproduction rights mandates, including for Canada, via our other wholly owned subsidiary, Audiam.

We maintain that music rights-owners and licensees in Canada would benefit from a consolidated approach to the management of their reproduction rights and performing rights through SOCAN. We hope that we might be able to strengthen our mechanical rights services and management with the integration of SOCAN and SODRAC. These talks are going very well and, subject to both boards’ approval, an agreement could be reached in the near future. The result would be a further opportunity for rights-holders to enjoy the benefits of having their performing and reproduction rights administered on a bundled basis.

SOCAN will continually look for more ways to become a more efficient, multi-rights, multi-territorial, and multi-service organization, as we deliver on our strategy to lead the global transformation of music rights.