TONO's annual accounts for 2017 show a profit for distribution to licensees of kr 568 million, an increase of 27 percent compared to 2016. Costs have been reduced by kr 1 million compared to 2016, and is below the 2014 level. Revenue increased by 22 percent compared to 2016 – to kr 661 million. With an increase from 2016 of 67,2 percent, foreign revenues have the largest percentage growth among TONO's business areas.
/ 02/05/2018 / Willy Martinsen– We are very satisfied with the results for 2017, and we are pleased that TONO manages an attractive repertoire that is widely used. It is worth noting that TONO's income from abroad has doubled in three years. This shows both that our repertoire is used more abroad than ever before, and that TONO is able to collect income from abroad, says TONO CEO, Cato Strøm.
The sister societies TONO received the largest revenues from in 2017 were Gema (Germany), Stim (Sweden), Koda (Denmark), Sacem (France) and Teosto (Finland).
– Although TONO's overall figures show growth, unfortunately most of TONO's members find the digital economy challenging. Streaming provides new user patterns, competition for listeners is greater, and most experience that income is lower than when music consumption took place via physical media. It is also difficult to get user-generated social media to pay what we believe is fair remuneration for the music use that the services make money from, which is due to the services hiding behind outdated e-commerce legislation in the EU. We expect political action from both the EU and national legislators when it comes to establishing liability towards rights holders from, for example, Facebook and Youtube.
Broadcasting remains TONO's largest business area, with revenues of NOK 188,7 million in 2017. This area grew by 5,4 percent from the previous year. TONO's second largest business area is online, which also experienced strong growth. Concerts also constitute a large area with revenues of NOK 79,2 million, an increase of 12,14 percent from the 2016 result.
TONO gained 1,645 new members during 2017, of which 10 were music publishers. This is the highest number of new members TONO has ever gained during a calendar year. At the end of 2017, TONO had management contracts with 30,948 rights holders. TONO's members registered 30,604 new works in TONO's works database during 2017.
Here is a graphic representation of TONO's revenue areas in 2017 with 2016 figures in parentheses.
TONO's annual report will be published on tono.no on May 15.
About TONO:
TONO is a non-profit cooperative, founded in 1928, owned and managed by its members: composers, lyricists and music publishers. TONO manages performance rights for musical works in Norway, and collects remuneration for their public performance. TONO currently represents more than 31,000 TONO members, as well as more than 2,5 million authors from other countries in the Norwegian territory through reciprocal agreements with sister societies worldwide. TONO's results for distribution are transferred to the rights holders in performed musical works. TONO facilitates the use of music in society, while providing music creators with a basis for constantly creating new musical works. For more info: www.tono.no
For more information:
Cato Strøm, managing director of TONO, mob. 922 16 319, e-mail: cato.strom@tono.no
Willy Martinsen, communications manager at TONO, mobile 909 65 254, email: willy.martinsen@tono.no
Photo at top: istock.com/Microstockhub