TORONTO (CelebrityAccess) — Digital performance rights organization SoundExchange announced that they have acquired the influential Canadian Musical Reproduction Rights Agency Ltd., which represents the lion's share of songs recorded, sold and broadcast in Canada on behalf of music publishers.
CMRRA represents the vast majority of musical works licensed in Canada and has assembled a significant database that associates musical works to sound recordings. The agency provides services for numerous markets including streaming services, physical products, satellite and terrestrial broadcast mechanicals and more.
The major acquisition represents SoundExchange's first expansion into the collective management of music publishing rights and will allow the two companies to integrate and streamline the administration and distribution of sound recording and music publishing royalties.
SoundExchange and CMRRA will continue to work independently and serve their current customers while also looking for ways to collaborate on service offerings, the company said. CMRRA President Caroline Rioux and her senior management team will remain with the operation, reporting to the board of directors of SXWorks, a new subsidiary of SoundExchange. Huppe will lead SXWorks as Chairman of the new company.