Sodrac

Aug 1, 2018

August 1, 2018 Socan is getting its wallet out again: this time the collecting society has closed its acquisition of fellow Canadian organisation Sodrac (the Society for Reproduction Rights of Authors, Composers and Publishers). Socan is bullish about what the deal means for creators. “For the first time in Canada, a single organisation – Socan – will be able to license, track and distribute all royalties for both music performing rights and mechanical rights,” it announced yesterday. “A transition period will result in the full integration of the organisations. Efficiencies in overhead expenses and operations will be sought and ultimately passed along for the benefit of members.” CEO Eric Baptiste  told Billboard more  about the implications of the ‘non-monetary’ acquisition. “For anyone or any company that chooses to go with our reproduction rights offering, the bottom line should be more money, better distributions, with more information, more access to general data,” he said. “So that’s good. And for the licensees, it’s ultimately a one-stop shopping solution with one license for both rights.” Stuart Dredge