Re:Sound's 20th Anniversary Proved To Be A Banner Income Year
Canada’s music licensing body Re:Sound posted double-digit growth in its latest fiscal 2017 report with revenues up $7.2-million or 16% to $53.4-million, in part enhanced by increased collections
By David Farrell
Canada’s music licensing body Re:Sound posted double-digit growth in its latest fiscal 2017 report with revenues up $7.2-million or 16% to $53.4-million, in part enhanced by increased collections from international sources and public performance.
The not-for-profit rights collective licenses recorded music to terrestrial and satellite radio, digital music services, live events, nightclubs, bars, restaurants, retailers, gyms, dance clubs, and other business using music. Fees collected are then directly distributed to artists or labels signed with Re:Sound or paid through member societies (Artisti, MROC, ACTRA RACS, Connect, SOPROQ) for rights holders signed up through them, as well as to international partner organisations like SoundExchange. (Re:Sound also collects royalties from SoundExchange on behalf of Canadian artists and labels.)
In fiscal 2017, the licensing body's 20th year of operation, close to 31 percent of revenue came from commercial radio, totalling $16.3M; satellite radio’s share was 25 percent, at 13.5M; public performance’s share was 12percent, at $6.4M; international revenue’s share was 13 percent, at $6.9M. Pay Audio and Internet income totalled less than $1M, whereas income from the CBC totalled close to $1.4M.
In 2017, Re:Sound partnered with other organizations on projects to help meet its strategic goals that provided efficiencies, improved data collections, and utilized technology to improve things for creators.
Among these were:
Co-ordinated ISRC standardization done in tandem with Bell Media and Music Canada;
creation of a joint portal pilot with SOCAN to accelerate and simplify the licensing of music in Ontario;
streamlining back-end data with Connect to reduce admin fees and increase distributions;
and hosting the Plenary of Digital Data Exchange (DDEX), a consortium of digital media, music and tech companies focussed on creating international standards for the digital supply chain.
At the end of 2017, Re:Sound had licensed nearly 76,000 business across Canada.
The annual report can be downloaded in full here.