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Re:Sound Annual Report

2017

About

Re:Sound is the not-for-profit music licensing company dedicated to obtaining fair compensation for artists and record companies for their performance rights. It’s our job to ensure music creators are properly compensated for the value they provide to businesses, such as retail stores, restaurants, gyms, and broadcasters.

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Distribution

$45.9 million dollars

9.7 million rights holder claims

In 2017, Re:Sound's distributable revenues were $45.9M, and we processed 9.7M claims by rights holders. We moved from 28-day radio log reporting to 365-day, resulting in a higher volume of data that leads to greater accuracy in our distributions. We also worked closely with industry organisations like CONNECT Music Licensing and Bell Media to implement 100% compliance on ISRC (International Standard Recording Code) data.

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Licensing

Nearly 3,000 new businesses licensed

17.5% increase in revenue

The licensing department was busy in 2017 connecting with all types of music users about our five latest tariffs – sporting events, comedy and magic shows, concerts and theatrical dance – yielding a 17.5% increase in revenue over 2016, and licensing nearly 3000 new businesses. At the end of 2017, Re:Sound had licensed nearly 76,000 businesses across Canada!

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SOCAN Joint Portal Pilot

Building off our Core Rights partnership with SOCAN in 2016, we launched a joint portal pilot project to serve 397 Reception and Convention venues in Ontario in Fall 2017.

Financials

Re:Sound collected $53.4M in revenue in 2017, the highest ever since our incorporation in 1997.

This represents an increase of $7.5M (+16%) from the previous year and $24.7M (+86%) from 2008. This incredible achievement was supported by growth in public performance and international income. We have also improved our expense-to-revenue ratio from 14.4% in 2016 to 13.9% in 2017.

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20 Years

Timeline

Founded in 1997, Re:Sound celebrated its 20th anniversary in 2017.

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