… The Province of British Columbia and Creative BC are allocating $300,000 for
a new innovation program as part of the BC Music Fund. Eligible initiatives include:
cross-sector and multimedia projects related to music; experimental or experiential
projects that increase visibility, access, or awareness for B.C. music; projects that
develop new technology, software, or programs; and projects or initiatives related
to B.C.’s music industry that are innovative or experimental in nature.
Applications are being accepted until June 15, 2017. For more information, go
to www.bcmusicfund.com.
… FACTOR has announced
several significant changes
to its programs and policies
for 2017-18. Among them is
the elimination of its loan
repayment policy, which
means only grant funding
will be provided as of April
1, 2017. For details, go to
www.factor.ca.
follow the
MONEY...
Streaming Continues to
Push Revenue Growth;
Canada Now 6 th
Largest Market
The global recorded music market grew by
5.9 per cent in 2016, the largest year-over-
year percentage increase since IFPI began
tracking the market in 1997, according to
the IFPI Global Music Report 2017. Total
revenues for 2016 were $15.7 billion (all fig-
ures in U.S. dollars).
Of note is that
Canada has passed
Australia to become
the sixth largest
market in the
world for recorded
music. This growth
is mostly driven by
streaming, which
saw revenue more
than double from $49.82 million in 2015
to $127.8 million in 2016. As has been the
global trend, paid subscriptions generat-
ed the majority of streaming revenues in
Canada, accounting for $94.45 million in
2016, compared to $15.72 million from
ad-supported audio streaming and $17.59
million from video streams.
Globally, at the end of 2016, there were
112 million users of paid music stream-
ing subscriptions driving year-on-year
streaming revenue growth of 60.4 per cent.
Digital income last year accounted for half
of the global recorded music industry’s
annual revenue for the first time. Growth
in streaming offset a 20.5 per cent decline
in downloads and a 7.6 per cent decline in
physical revenue.
For more information, go to www.ifpi.org.
W W W. C A N A D I A N M U S I C I A N . CO M
C A N A D I A N M U S I C I A N • 13