SoundExchange Acquires Canadian Music Reproduction Rights Agency

Buys Canadian

SOUNDEXCHANGE has acquired the CANADIAN MUSICAL REPRODUCTION RIGHTS AGENCY LTD. (CMRRA), a music licensing collective representing the vast majority of songs recorded, sold and broadcast in CANADA on behalf of music publishers. Operating out of its TORONTO headquarters, CMRRA Pres. CAROLINE RIOUX and her senior management team will report to the board of directors of SXWorks, a new subsidiary of SOUNDEXCHANGE, and SXWORKS Chairman MICHAEL Huppe.

The acquisition will provide SOUNDEXCHANGE the opportunity to offer its services to rights holders in both sound recordings and music publishing and music users alike across NORTH AMERICA. The administration and distribution of sound recording and music publishing royalties will be the two agencies will integrated and streamlined, although the two companies will continue to work independently and serve their current customers

“We are proud to join forces with CMRRA," SOUNDEXCHANGE Pres./CEO MICHAEL HUPPE said. "We have a simple, yet ambitious goal: to maximize the value of music for all creators -– for musical works and recordings alike –- wherever their work is used. The acquisition of CMRRA helps us increase efficiencies while also extending service to the publishing sector. This exciting partnership builds on CMRRA’s great relationships with music publishers and licensees, its long record of accomplishment and its stellar reputation.”

“The board initiated its search for a strategic partner for CMRRA nearly a year ago,” SONY/ATV MUSIC PUBLISHING CANADA Pres. and current CMRRA Board of Director GARY FURNISS said. “The board was committed to finding a firm with the right mix of music industry know-how and a culture of digital entrepreneurship. SOUNDEXCHANGE fit the bill. Additionally, the opportunity for data collaboration will inevitably increase the speed, efficiency and accuracy of royalty payments for everyone.”

“We were looking for a partner that shares our vision and philosophy of service to the music publishing community,” RIOUX said. “With SOUNDEXCHANGE, we will not only continue to deliver on our mission to maximize the value of the reproduction right in CANADA and meet our clients’ needs to quality and low service fees, we will also be able to develop new services domestically and beyond.”

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