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FYI

Re:Sound Financials Prove Impressive

Performance rights org Re:Sound reports preliminary figures show income for 2018 has topped $50M with foreign income up 38 percent over 2017.

Re:Sound Financials Prove Impressive

By FYI Staff

Performance rights org Re:Sound reports preliminary figures show income for 2018 has topped $50M with foreign income up 38 percent over 2017.


Final figures will be available in June, but the big news for now is that performers and record companies will be receiving a higher amount of income from US sources as a result of greater interoperability in an existing bilateral agreement between Re:Sound and US digital performance rights royalties org SoundExchange.

SoundExchange collects music royalties in the US from 2,500+ non-interactive digital streaming services, namely Internet radio (such as Pandora – which isn’t available in Canada), satellite radio (such as SiriusXM) and cable TV music services.
 
Re:Sound also has bilateral agreements in place to collect on behalf of labels from counterparts in Brazil, Denmark, Finland, Germany, Greece/Cyprus, Ireland, Italy, Japan, the Netherlands, Norway, Poland, Spain, Sweden, and Ukraine.

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International collections grew 38% over 2017, coming in at $9.5 million. By contrast, private copying revenues (from the Canadian Private Copying Collective, CPCC) declined from $7.6 million in 2017 to just $1.0 million in 2018 as a result of outdated copyright law.

Private copying income is slowing to a trickle as the current legislation is limited to collecting a levy on various CD formats (rewritable, recordable) and blank tape.

Various internal efficiencies have reduced expenses by about 4 percent from 2017, adding further to the distribution income stakeholders receive.

As well as contributing as much as $50M to the musical ecosystem, Re:Sound employees also gave back in 2018 through the 6th annual Re:Wind fundraising concert, which raised over $36,000 for the Unison Benevolent Fund and Anduhyaun Inc. (an organisation supporting indigenous women and children through the operation of the Anduhyaun Shelter, for aboriginal women fleeing violence).

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The Weeknd
Holly McCandless Desmond

The Weeknd

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The Weeknd Tests the Depths of His Soul in Ominous ‘Hurry Up Tomorrow’ Film Trailer: Watch

The thriller is slated to hit theaters on May 16.

The Weeknd has shared another glimpse into his upcoming Hurry Up Tomorrow film ahead of its nationwide theater release on May 16.

The ominous thriller received a second trailer on Tuesday (April 1) as the Toronto singer/actor took viewers further into his bewildering odyssey. Jenna Ortega and Barry Keoghan serve as The Weeknd’s co-stars in the movie directed by Trey Edward Shults.

This article was originally published by Billboard U.S.

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