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FYI

StatsCan Reports Industry Revenues For 2017

Canada’s recording and music publishing industries grew by 21.1 percent to $1.1 billion in 2017, according to

StatsCan Reports Industry Revenues For 2017

By FYI Staff

Canada’s recording and music publishing industries grew by 21.1 percent to $1.1 billion in 2017, according to Statistics Canada.


The majority of operating revenue came from the record production and distribution market, which saw a 53.9 percent growth.

While sales of music in most formats declined, the industry earned $175.9 million in revenue from streaming revenues.

In 2017, streaming sales represented the largest share (42.6%) of sales by format, followed by compact discs (27.7%), digital downloads (23.3%) and other forms, including vinyl and DVD (6.4%). CD sales were down 26.1% from 2015, while digital download sales decreased 23.9% over the same period. In 2017, streaming income generated $175.9 million in revenue.

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Royalties, franchise fees, and memberships accounted for one-third (33.6%) of operating expenses in this industry in 2017, followed by the cost of goods sold (25.8%) and salaries, wages, commissions and benefits (14.4%).

Music publisher revenues came second with 30.7 percent operating revenue growth and sound recording studios’ operating income grew by 13 percent in 2017.

Music publishers earned operating revenues of $329.1 million in 2017, up 17.2% from 2015. The industry's operating profit margin declined from 11.4% in 2015 to 10.5% in 2017. As with record production and distribution, the largest share of expenditures in this industry comes from royalties, franchise fees, and memberships (36.9%). Salaries, wages, commissions, and benefits followed, accounting for 21.1% of operating expenses.

Recording studio operating revenues increased 6.8% from 2015 to $139.5 million in 2017, while the operating profit margin rose to 17.4%.

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The Weeknd
Holly McCandless Desmond

The Weeknd

Rb Hip Hop

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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