CMRRA distributes over $78 million in mechanical royalties to music publishers and self-published songwriters

TORONTO, June 4, 2024 /PRNewswire/ -- The Canadian Musical Reproduction Rights Agency (CMRRA), innovators in licensing and royalty administration for over 49 years, announced today their 2023 year-end fiscal results, including the distribution of more than $78 million dollars.

"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."

Overall, distributions improved by 8.9% from 2022. This was primarily driven by an increase of more than 29% in audiovisual post-synchronization, incorporating higher organic consumption along with the introduction of revenue from additional services. International collections also demonstrated strong progress, recording a 20% increase. Additionally, physical distribution channels experienced an 8% uplift driven by the ongoing vigor of vinyl, while online streaming services saw a continued growth of 3% from the previous year.

"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."

2023 CMRRA Highlights

• Entered into a 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 in the US with our affiliate SX Works
• Renewed a multi-year deal with SiriusXM along with several other digital service providers
• Continued focus on building out our new publisher platform with SoundExchange. In 2023, full end-to-end administration (invoicing, DSP payment collections, matching, royalty distributions & royalty statements) of Online streaming platforms, along with, TikTok were successfully ported over with no client disruptions to the quarterly schedule
• Affiliated 247 new clients
• Increased industry partnerships, welcoming 25 new and returning partners such as JUNOS, CCMAs, and adding the Indigenous Music Summit, Folk Music Ontario, Battle of the Beatmakers, among others

As we look ahead, we are excited to continue building on our achievements and further innovating within our industry. We remain committed to enhancing our offerings and delivering exceptional value to our clients and partners and we look forward to another year of growth, collaboration, and success.

About CMRRA

The Canadian Musical Reproduction Rights Agency Ltd. (CMRRA), a SoundExchange company, represents the vast majority of the music publishers doing business in Canada. CMRRA licenses dozens of digital services including all of the major online music services operating in Canada. It licenses, collects, and distributes royalties for the majority of songs recorded, sold and broadcast in Canada. For more information, please visit cmrra.ca.

SOURCE CMRRA