Here is this week's Luminate Data Market Watch report which features Canadian music stats for the current week and year-to-date comparisons to last year.
Here is this week's Luminate Data Market Watch report which features Canadian music stats for the current week and YTD with comparisons to last year. This chart is published every Tuesday. The abbreviation "TEA" is a term used to describe the sale of music downloads or singles. A track equivalent album is equal to 10 tracks, or 10 songs.
Bill 108 aims to make SODEC a leading investor in the cultural sector by granting an additional $200M to invest into projects.
The SODEC (Society for Developing Cultural Enterprises) could be getting a boost in Quebec.
The ADISQ (Quebec Association for the Recording, Concert and Video Industries) announced its support of a new bill proposed by Quebec Culture Minister Mathieu Lacombe on Wednesday (May 28) which seeks to increase SODEC's funding.
Bill 108 wants to make SODEC a major gateway for financial support of music and cultural enterprises in Quebec. The new bill would grant the organization and the Quebec government an additional $200M to invest into the cultural sector, increasing its budget from $19.5M to $219.5M. This would make SODEC the leading investor for cultural projects.
“SODEC, whose mission is to ensure the development of Quebec's cultural enterprises, has been rigorously supporting our industry for many years,” says Eve Paré, general director of ADISQ. "This bill recognizes SODEC's strategic expertise and gives it greater latitude to fulfill its mission even more effectively."
The SODEC currently supports various channels of cultural production in Quebec from film to television, music, books and more. Bill 108 adds "digital creativity" to the scope of projects that the organization oversees, referring to cultural projects that rely on modern technology.
With this new venture and additional funding, Lacombe continues to encourage development and innovation in a sector that he says is continuously growing, as stated in a recent press conference per Le Devoir. A stronger support of these local institutions means a more powerful display of the local culture, which can be achieved through greater financial support.
"The music industry's entrepreneurial model is based on risk-taking. Developing an artistic career requires continuous investment, from creation to distribution," concludes Paré. "Supporting our companies means believing in the quality of our music, and contributing to the influence of a diversified and innovative musical offering."
Lacombe also tabled Bill 109 last week, which aims to add more French-language content to major streaming platforms, as well as increasing its discoverability and accessibility by establishing quotas. The bill impacts streaming giants such as Spotify and Netflix and could force them to display their default interface in French and include a certain quantity of original French-language content.
Bill 108 is the latest initiative by Lacombe to promote the value and importance of Quebec culture.
