The event-filled summer season and on-line music use considerably elevated the quantity of royalties

    The event-filled summer season and on-line music use considerably elevated the quantity of royalties

    Teosto, which collects royalties for composers, lyricists, arrangers and music publishers, achieved a report end in 2022. This info is included in Teosto’s annual report and monetary statements, which had been authorized by Teosto’s Basic Assembly on 17 Could 2023.

    In 2022, the entire royalties for using music collected by Teosto reached a report excessive of EUR 80.7 million (2021: EUR 70.1 million).

    Of the entire quantity, the share of royalties collected immediately from music customers by Teosto elevated to a report EUR 72.8 million (2021: EUR 62.3 million). The share of royalties collected by overseas copyright societies, lending compensation and personal copying compensation was a complete of EUR 7.9 million.

    The event-filled summer season and on-line music use considerably elevated the quantity of royalties

    Because of the massive quantity of royalties collected, the entire distribution to Teosto’s music writer and writer members elevated by 16%, setting a brand new report of EUR 70.3 million. (2021: EUR 60.8 million). Alternatively, Teosto’s personal working bills had been modest: the expense proportion fell from final 12 months’s 13.7% to a report low of 12.6%.

    “The rise in royalties is a results of there being a lot of summer season occasions after the COVID-19 restrictions had been lifted and the robust development in on-line music use. After the troublesome COVID-19 years, attaining the most effective end in our historical past and seeing vital development within the whole distribution to music authors and publishers are extraordinarily vital to us. The music business is a future development business for Finland, and it’s price it to spend money on it,” says Teosto’s CEO Risto Salminen.

    The COVID-19 struggles of live shows and festivals ended, and there was robust development in on-line music use

    In 2022, the performing proper royalties from live shows and festivals returned to pre-pandemic ranges, amounting to EUR 5.1 million (EUR 0.9 million in 2020 and EUR 1.6 million in 2021). In 2019, earlier than the COVID-19 pandemic, EUR 5.2 million in royalties was collected from live shows and festivals.

    Within the on-line class, which covers audio providers (e.g. Spotify, YouTube) and video-on-demand providers (e.g. Netflix, HBO Max), the royalties collected grew greater than 19% in comparison with 2021, growing from EUR 14.5 million to EUR 17.3 million. Annual development has been robust: in 2021, the royalties within the on-line class elevated by 26% through the 12 months. The digitalisation of music use has been a megatrend for a very long time: The royalties collected within the on-line class have elevated by 143% since 2016 (2016: EUR 7.1 million).

    Advocacy associated to the parliamentary elections for the great of the music business

    Teosto’s imaginative and prescient is in growing the cultural and industrial significance of music. Teosto did advocacy work forward of the April 2023 parliamentary elections by creating, for the primary time, frequent targets for the federal government programme along with its member organisations, the Finnish Music Creators’ Affiliation, the Society of Finnish Composers and the Finnish Music Publishers Affiliation. The outcomes of this cooperation will be assessed by evaluating them to the federal government programme that’s finally made.

    In early 2022, Teosto was in a position to attain its long-term promotion of pursuits purpose when it was determined, on the premise of a proposal by the Ministry of Social Affairs and Well being, that royalties would not have an effect on the unemployment advantages of music authors. The change took impact in the beginning of 2023.

    In 2022, Teosto used EUR 2.8 million from the Teosto Fund to advertise Finnish music, of which the most important share, EUR 1 million, was paid to music authors as COVID-19 monetary assist. In whole, Teosto distributed EUR 4.6 million of COVID-19 monetary assist through the pandemic.

    Teosto has virtually 40,000 members and a report variety of new voting members

    In 2022, greater than 1,500 new members joined Teosto and 18 members left. Teosto acquired a report excessive of 125 new voting members. Teosto now has 900 voting members (775 in 2021).

    All in all, on the finish of the 12 months Teosto had a complete of 39,060 rightsholder members: composers, lyricists, arrangers and publishers. Of the music writer members, solely 21% had been feminine, however this elevated to 26% of the members who joined in 2022.

    Teosto’s carbon footprint was 54.16 tonnes

    In 2022, Teosto’s carbon footprint amounted to 54.16 tonnes. In 2021, the autumn in journey attributable to COVID-19 restrictions decreased Teosto’s carbon footprint considerably from 80.8 tonnes to 53.4 tonnes. Nevertheless, the return of employees to the workplace, enterprise journey and the rise in occasions in 2022 didn’t improve the emissions to pre-pandemic ranges. The carbon dioxide emissions from Teosto’s operations have fallen to 1 / 4 of the quantity in 2018, which is when Teosto began measuring its emissions.

    In Teosto’s new Sustainability Report, Teosto describes its operations from the angle of cultural duty, monetary duty, social duty and environmental duty.


    Supply: Teosto