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ERIC BAPTISTE AT SOCAN ’ S 2016 AGM
Revenue , MediaNet Acquisition & Royalty Analytics Discussed at SOCAN AGM
Nielsen Report Shows Paid Streaming Gaining Ground , AM / FM Still Influential
Nielsen has released the Nielsen Music 360 Canada Report for 2016 , which takes an in-depth look at consumer interaction with music in Canada .
Key findings include :
• Music consumption is increasingly mobile . 56 per cent of teens and Millennials ( ages 13-34 ) listen to music on their smartphones in a typical week .
• Even though discovery via online music streaming services is trending upward , AM / FM radio is still the most popular method of discovery for Millennials .
• Canadian music consumers ’ music-related expenditure is increasingly allocated to live , experiential , and paid streaming services .
• 16 per cent of teens and Millennials who do not currently pay for streaming service say they are likely to subscribe in the next six months .
The Nielsen Music 360 Canada Highlights Report can be found at www . nielsen . com .
More than 200 SOCAN members gathered in Vancouver on June 13 th to attend the organization ’ s 2016 annual general meeting where CEO Eric Baptiste shared SOCAN ’ s record financial results for the year , including total revenue of $ 307.8 million , with more than $ 62 million of that in international revenue . SOCAN collected $ 15.5 million from internet streaming , a 24.4 per cent increase from the previous year , and also collected $ 21.1 million in live performance revenue , allowing members to collectively realize more than $ 20 million for the first time in SOCAN ’ s history . Baptiste also reported a record low expense ratio of 9.2 per cent .
Baptiste also spoke about SOCAN ’ s new free-to-members Royalty Guru analysis tools , which allow members to use online analytics to assess and monitor their royalties . Also discussed was SOCAN ’ s strategic acquisition of Seattle-based MediaNet . This business-to-business music technology provider offers 360-degree music rights administration to SOCAN members and ensures rights owners are properly compensated for their work . More information , go to www . socan . ca .
Indie Music Worth $ 5.6 Billion Globally
The Worldwide Independent Network ( WIN ), the organization that represents the interests of the global independent music community , has released its WINTEL report . Key findings include that , based on rights ownership , the global market share of independent record labels is 37.6 per cent , representing $ 5.6 billion in 2015 . In Canada , independent labels account for 21 per cent of recorded music revenue .
Read the full report at www . winformusic . org .
14 • CANADIAN MUSICIAN
$ 17M Funding to Reshape Music Research in Montreal
The Centre for Interdisciplinary Research in Music Media and Technology ( CIRMMT ), the Schulich School of Music of McGill University , and the Faculty of Music of l ’ Université de Montréal have received a significant investment of public and private support that the institutions say will redefine the future of music research in Canada by transforming the way musicians compose , listen to , and perform music . They are creating an interconnected research hub that will link two spaces at two of Canada ’ s most renowned music schools .