SOCAN achieves half-billion dollar revenue milestone
Story shared by SOCAN | March 27, 2024
SOCAN has announced that, for the first time in its history, total annual revenue will exceed half a billion dollars, which was collected in 2023. Similarly, distributions to music creators and publishers grew impressively, to a record-high $442 million.
SOCAN revenue grew to an estimated $523-million in 2023, an eight percent increase over 2022. The nearly $40-million growth is attributed mainly to increased revenue from digital and international sources, and continued return-to-normal activity bolstering the pools for General Licensing and Concerts.
