Two highlights of the year were SOCAN’s purchases of Audiam and MediaNet. These acquisitions of U.S.-based companies that operate internationally help us in supporting several of our strategic objectives.
We realized that it was better to buy rather than build, and this expansion has vastly improved SOCAN’s internal and external firepower. While we’re still integrating and developing the services and capabilities into SOCAN’s infrastructure, we’re already seeing immediate benefits in improvements to matching abilities, as well as being positioned to take on international projects that will generate revenue, to the benefit of all of our members.
We’ve already received much praise from within the industry, confirming that these bold moves have placed SOCAN in a unique space, as a leader in the changing environment.
In addition to these activities, as part of the ongoing annual work of the Board of Directors and its standing committees, Executive Governance; Risk Identification & Management; Tariff, Licensing and Distribution; and Membership, we engaged in a myriad of tasks, including monitoring and reviewing budgets and forecasts; managing SOCAN’s investments and other financial activities; evaluating CEO Eric Baptiste’s performance; overseeing our many member events, including our annual general meeting and awards ceremonies; and reviewing our communication strategies, policies and activities.
Throughout 2016, SOCAN continued completing the development and implementation of its BEST (Business Enterprise Solution for Tomorrow) computer system in order to deal with the explosive data requirements necessary to track the trillions of performances in the digital world. This process began in 2013 and currently the financial, membership profiles, licensing, invoicing, business development, and other functions have all been deployed. The final phase, distributions, will be completed in 2017.
And speaking of distributions, we distributed royalties from Apple Music for the first time in 2016 and we’ll be distributing significantly more revenue from Tariff 22a, for online music services, throughout 2017.
Also within 2016, the Canadian Songwriters Hall of Fame has been gearing up for a gala induction ceremony on September 23, 2017. After a five-year hiatus since SOCAN took over the Hall of Fame, we’re finally ready to re-launch, with an event at Massey Hall that will rival any prior Hall of Fame ceremony. Inductees will include Neil Young, Bruce Cockburn, Beau Dommage and Stephane Venne.
Head over to www.cshfinduction.ca for the latest on all the incredible performances and ticket availability.
President & Chair of the Board Songwriter