Moving closer to customers and partners
2014 was a year of strengthening cooperation. We relocated from Lauttasaari, Helsinki, to the Kampin Huippu building in the heart of the city together with Music Finland and the following member organisations of Teosto: Elvis – The Finnish Society of Composers and Lyricists, the Society of Finnish Composers, and the Finnish Music Publishers Association.
The new premises are excellent for work. The look is fresh and modern; for example, conference rooms were branded in accordance with Teosto Prize winners.
In 2014, we also cooperated closely with our Nordic affiliates, Koda from Denmark and Tono from Norway. In the context of the Polaris Nordic alliance, we adopted a distribution system for performances. The system streamlines our operations and increases efficiency, bringing even more added value to our rightholders. This represents the core of Teosto’s operations, as our most important task is to ensure the success of Finnish music authors. In addition, we have agreed on adopting the ICE database of musical works with the other Polar Nordic organisations during 2015.
Facilitating the use of music
Our goal is to facilitate the acquisition of music licences. To this end, we entered into closer cooperation with Gramex in the autumn by deciding to establish GT Music Licences Ltd. The new joint venture will take on selling background music and event licences as well as handling invoicing and customer service for both Teosto and Gramex. This will make obtaining licences easier: in the future, licences will be available to customers on the one-stop shop principle. The goal is to transfer the functions mentioned above to the joint venture in stages during the next three years, from 2016 onwards.
EUR 52.3 million paid by Teosto to music authors in 2014
In 2014, the royalties collected by Teosto for using music in Finland amounted to EUR 51.9 million. In addition, performing right royalties and mechanical reproduction royalties amounting to EUR 8.2 million were collected through other organisations. The total amount of royalties distributed to rightholders for 2014 is EUR 52.3 million.
Compensation for private copying to be financed from the State budget
A proposal was made in 2014 on amending the Copyright Act by giving up device fees in private copying compensation and moving to compensation from the State budget. The legislation entered into force at the beginning of 2015, also marking the end of Teosto’s role as an organisation collecting private copying fees, which had lasted for decades.
The Year in Numbers
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