The International Confederation of Societies of Authors (CISAC) has announced that creators’ royalties have hit a new record high of C$12.9B worldwide.
Music creators – songwriters, lyricists, composers and music publishers – saw their global royalty collections grow by 6.8 percent to C$11.37 billion, helped by a 52 percent increase in digital revenues.
According to the organization’s annual Global Collections Report, revenues from digital uses of all repertoires – are largely driven by streaming subscription services – have nearly tripled since 2012, and grew 51.4 percent in 2016 to just under C$1.5 billion, the sharpest growth rate in the last five years.
Live music and background music income is up globally, reflecting the health of live music in particular, while television and radio income is still the biggest segment, accounting for 42 percent of global income.
In a focus on Canada, the report found that over the past five years, royalty collections in Canada have grown 24.6 percent; digital royalty collections have grown to C$58 million from C$11 million; and that television and radio account for almost 63 percent of royalty revenue.
“SOCAN members’ and international creators’ everyday work is so strong that it has once again taken worldwide royalty collection to a new record high,” said SOCAN CEO Eric Baptiste, who’s also Chairperson of the CISAC Board. “Like other collective rights organizations, SOCAN is working hard to outpace the present and anticipate the future with new technology and strategic alliances to improve our royalty collection even more. These results provide good news for all of our members, and their peers around the world, who create music for a living.”
For more highlights from CISAC’s 2016 Global Collections Report, visit the CISAC website.