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Exploring the 2.99% Royalty Rate: A Deep Dive into Music Licensing
The episode elucidates the stark reality that music creators receive a mere 2.99% of the revenue generated from streaming platforms, such as Spotify, in Canada, a figure that significantly undermines their financial viability. This percentage, dictated by the Copyright Board of Canada, is distributed by SOCAN among songwriters, composers, and producers, further exacerbating the challenges faced by artists reliant on these meager payouts. The discussion highlights the systemic issues within the music industry, particularly during the COVID-19 pandemic, which has intensified the financial…
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