SoundExchange expands into publishing rights with acquisition of Canada's CMRRA

SoundExchange expands into publishing rights with acquisition of Canada's CMRRA

US recorded music licensing body SoundExchange is entering the world of publishing rights. Accordin to "Music Business Worldwide", indeed, sources unveiled  that the Washington D.C-based organization has fully acquired mechanical rights collection agency CMRRA (Canadian Musical Reproduction Rights Agency Ltd.).

The deal will bring together the management of a vast tranche of Anglo-American sound recordings and music publishing repertoire.

The two companies are expected to continue to be run separately, but with increasing collaboration behind-the-scenes.

Toronto-based CMRRA licenses mechanical/reproduction music rights across streaming platforms and physical formats, in addition to broadcast (including both satellite and analog services).

Performance rights organization SoundExchange paid out a record $884m in digital royalties to artists and labels in 2016 - up 10% year-on-year.