TORONTO (CelebrityAccess) — The Canadian Musical Reproduction Rights Agency (CMRRA) announced distributions of $96 million in royalties to its music publisher and self-published songwriter clients for fiscal year 2024.
The distributed royalties represent an increase of 23% from 2023, propelled by significant growth in revenue from multiple sources.
Streaming continued to be the primary driver of results, up by 38% year-over-year while physical formats, including vinyl, grew by 12% during the reporting period.
Revenue from international sources surged by 50%, showcasing the strength of Canadian artists with fans around the world.
“We’re proud to have distributed over $96 million in mechanical royalties in 2024,” said Paul Shaver, President of CMRRA. “This achievement reflects our ongoing commitment to supporting the success of music publishers and self-published songwriters, who continue to inspire our work and push us to consistently raise the bar.
“We are continuously evolving to meet the changing needs of our clients, and music publishers and self-published songwriters remain our top priority,” Shaver continued. “Our focus is on delivering exceptional support and creating opportunities that empower them to succeed in an industry that is constantly transforming. By enhancing our services and streamlining processes, we are driving increased revenue to ensure their continued growth and success.”
The CMRRA is preparing to mark its 50th anniversary in 2025 and the organization unveiled a special edition of its logo which will reflect that milestone in 2025.
