SOCAN Announced $2m enhanced emergency program
SOCAN announced earlier this month that it is expanding its efforts to provide financial assistance to struggling members as a result of the COVID-19 crisis by allocating up to a total of $2-million for emergency royalty advances.
The program is aimed at SOCAN’s songwriters and screen composers whose ability to sustain their income has been compromised by the impact of the crisis on the music industry, especially on those whose concerts have been canceled, or whose television and movie productions have been suspended. The interest-free advances will be considered based on each member’s most recent earnings history, urgency, and need.
“SOCAN has our members’ backs,” said Eric Baptiste, CEO of SOCAN. “Getting funds to struggling members as soon as possible is of the utmost importance, and we will do whatever we can to help. We have a long history of supporting our members in times of need.”
Each individual application will be considered by SOCAN individually, presumably based on its own merits although SOCAN has not released the details of their decision-making process on which members get what.
SOCAN provides royalty advances to thousands of creators and publisher members every year. Domestic music publisher members are able to access support as well.
Members who’ve been affected by the COVID-19 crisis and wish to apply for the program should contact SOCAN’s Membership team at 1-866-307-6226, or by email at firstname.lastname@example.org
Priority will be given to SOCAN members who are faced with a loss in live performance royalties, or screen composers whose productions have been suspended.
The interest-free advance program will be followed by additional support initiatives, to be announced in due course as needs are better identified.
SOCAN collects license payments from businesses that use recorded and live music. It then identifies the music that was used to those who hold the rights to it and distributes what they have earned in regular royalty payments.
SOCAN says it will announce additional programs designed to assist its members through the crisis as they are determined.