TORONTO (CelebrityAccess) — Performing rights organization CMRRA (The Canadian Musical Reproduction Rights Agency) announced their 2023 year-end fiscal results, including the distribution of more than $78 million dollars to rights holders over the course of the year.
“We’re thrilled to have processed and distributed over $78 million dollars of mechanical royalties to our music publisher and self-published songwriter clients last year,” said Paul Shaver, President of CMRRA. “We are witnessing a significant uptick in music consumption, a trend that highlights the vibrancy and vitality of the industry, and which also emphasizes the growing demand for music across global audiences.”
According to the CMRRA, the distributions for 2023 represented an increase of 8.9% from 2022 with the results propelled by more than 29% in audiovisual post-synchronization, and expanded listenership, as well as new revenue from additional services.
International revenue was a bright spot for the CMRRA in 2023, with international collections up by 20% year-over-year. Additionally, physical distribution channels helped to drive results with an 8% increase while online streaming services saw a continued growth of 3% from the previous year, the CMRRA said.
Highlights for the CMRRA in 2023 included a new strategic partnership with COSCAP (Copyright Society of Composers, Authors and Publishers) to oversee the mechanical reproduction rights of its members across the Canadian marketplace and a renewed deal with SiriusXM along with other several other digital service providers.
Additionally, the CMRRA added 247 new clients in 2023 and struck new partnerships or renewed existing deals with JUNOS, CCMAs, the Indigenous Music Summit, Folk Music Ontario, Battle of the Beatmakers, among others.
“We’re thrilled to have processed and distributed over $78 million dollars of mechanical royalties to our music publisher and self-published songwriter clients last year,” said Paul Shaver, President of CMRRA. “We are witnessing a significant uptick in music consumption, a trend that highlights the vibrancy and vitality of the industry, and which also emphasizes the growing demand for music across global audiences.”
“We continue to implement strategic enhancements across our services to better meet the evolving needs of our clients,” says Shaver. “Music Publishers and self-published songwriters are at the heart of everything we do; their success fuels our innovation and drives us to continuously improve. We are committed to providing unparalleled support and opportunities for them to thrive in this ever-changing landscape.”
