Global remuneration income for artists in music, audiovisual works, literature, drama and visual arts reached a new record of €13,1 billion in 2023. This is equivalent to more than 154 billion Norwegian kroner (based on the exchange rate on October 24, 2024), and represents an increase of 7,6% from the previous year.
/ 24/10/2024 / Willy MartinsenThe figures come from CISAC’s annual Global Collections Report, which was published on Thursday, October 24. CISAC is a global umbrella organization for collective management organizations for creators across multiple artistic disciplines, including songwriters, composers and lyricists. The increase in 2023 was driven by continued growth in digital revenues and a strong recovery in the live sector and public performances, which have finally recovered from the pandemic.
– In total, the collective management societies collected 13,1 billion euros in 2023. This is the highest ever, and digital revenues have seriously taken a leading role as the largest source of income for creators overall, says TONO CEO Karl Vestli. – The report shows both how important music and other art forms are for businesses and society as a whole, but also the value that the collective management societies represent worldwide.
Digital revenues increased by 9,6% in 2023 to €4,6 billion, accounting for 35% of total revenues for the artists’ groups represented by CISAC worldwide. In comparison, 30% of revenues came from TV and radio, and 25% from live and public performances.
Despite the strong growth in digital revenue, the reality is that for the vast majority of creators, streaming revenue is still too low to secure a living. This is especially true for creators outside the most commercially successful group.
One of the most positive areas in this year’s report is revenue from live concerts and public performances, which increased by 22% to reach €3,3 billion, marking a significant recovery after the pandemic shutdown of the cultural sector.
While the report shows positive growth, it also points to challenges facing the creative industries, particularly related to artificial intelligence (AI). CISAC President Björn Ulvaeus warns in connection with the publication of the report that generative AI tools could threaten the income of human creators:
– We are on the threshold of a huge change. AI is shaking up our landscape, and we still do not know the full impact of the technology. Generative AI tools produce content that is copied from, and risks replacing, the works of human creators, he says. Ulvaus is himself a user and supporter of AI, but emphasizes that technological development must never come at the expense of copyright and human rights. – Poorly regulated AI development could wipe out the careers of many artists. It could be the next Paul McCartney or Taylor Swift, he warns.
Music remains the largest category in copyright royalties, with revenues of €11,75 billion in 2023. This represents an increase of 7,6% from the previous year. Western Europe remains the largest region with revenues of €6,7 billion, accounting for 50,9% of total revenues.
In Norway, we see a development that follows this larger global picture. TONO's revenue in 2023 was a record high of NOK 997,9 million, up 15,41% from 2022. For the first time, streaming became the largest revenue area, with NOK 300 million from the internet. Revenue from concerts and background music also reached record levels of NOK 112 million and NOK 88 million, respectively.
Download the report by clicking here (Pdf).
Read more on CISAC's website:
https://www.cisac.org/global-collections-report-2024
CISAC is the world's largest network of collective management organisations in music, audiovisual, literature, drama and visual arts. With 227 member organisations in 116 countries, CISAC represents over four million creators globally.
TONO manages the economic copyrights of composers, songwriters and music publishers. TONO grants permission for the use of protected music on radio, TV, the internet, concerts and cinemas, etc., against payment, and ensures that rights holders receive remuneration for publicly performed music.
Willy Martinsen, Communications Director at TONO, Mobile: 909 65 254, email: willy.martinsen@tono.no