SoundExchange has sold the Canadian Musical Reproduction Rights Agency (CMRRA) to the Society of Composers, Authors and Music Publishers of Canada (SOCAN), the country’s largest member-based music rights organization. The transaction, which is still subject to formal approval, unites two major entities in the Canadian music publishing landscape.
Deal Details
Financial terms of the agreement were not disclosed. SoundExchange, a non-profit that administers recording royalties, originally acquired CMRRA in 2017, marking its first entry into the reproduction rights sector.
Leadership Statements
Jennifer Brown, CEO of SOCAN, said the acquisition is about “strengthening Canada’s music rights landscape and building a more seamless experience for music publishers and creators.”
“When SoundExchange acquired CMRRA nearly a decade ago, we saw an opportunity to strengthen its foundation, invest in its future, and enhance the services it provides to music publishers and songwriters,” said Michael Huppe, President and CEO of SoundExchange. “Together, SoundExchange and CMRRA have built a strong, innovative, and thriving organization. We are proud of the progress achieved and believe SOCAN is the right organization to build on that success. This transaction benefits creators, publishers, and the broader music community while allowing SoundExchange to continue advancing our core mission of delivering value to artists and rights owners around the world.”
