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Digital royalty collections surged nearly 34% to 4.2 billion
euros in 2022 as more consumers turned to music and video
subscription services, the International Confederation of
Societies of Authors and Composers (CISAC) said in the report.
After a boom during the pandemic, streaming collections have
doubled from their pre-COVID levels and account for 35% of total
collections for music creators, surpassing TV and radio.
Royalties from the live and public performance sector -
including concerts, exhibitions and theatres - rose by 69.9% to
2.68 billion euros in 2022, but remained below 2019 levels of
around 7.9% after collapsing during the pandemic.
The report said live entertainment has continued its rebound in
2023 on the back of pent-up demand and could grow past
pre-pandemic levels.
It warned, however, that the outlook beyond 2023 was uncertain
because of concerns over consumer spending and tightening
touring budgets of artists.
Earlier this week, music-streaming giant Spotify reported a rise
of 26% in the number of its monthly active users to 574 million
in the third quarter, beating its own guidance and analysts'
forecast of 565.7 million.
CISAC President Bjorn Ulvaeus, one of the founders of Swedish
music group ABBA, said artificial intelligence could have an
impact on the industry's earnings going forward.
"It may not affect the graph lines of creators' collections in
2023, but it will in years ahead. Right now, creators must sit
at the table with the tech firms and policy makers at the
highest level," said Ulvaeus.
CISAC is a network of authors' societies, protecting rights and
representing interests of over four million creators of music,
audio-visual, drama, literature and visual arts.
($1 = 0.9464 euros)
(Reporting by Juby Babu in Bengaluru; Editing by Devika Syamnath)
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