Skip to content

Year 2022: a historic year in terms of results

CEO Risto Salminen

The year 2022 was one of rapid recovery for the music market. Even though early 2022 was affected by COVID-19 restrictions, the royalties collected by Teosto exceeded EUR 80 million for the first time in Teosto’s history – the total amount increased by 15.1% to EUR 80.7 million (2021: EUR 70.1 million).

Of the total amount, the share of royalties collected directly by Teosto increased to a record high of EUR 72.8 million (2021: EUR 62.3 million). The royalties collected via our diverse and efficient network of partners and the total amount of lending compensation and private copying compensation added up to EUR 7.9 million. The expense percentage of Teosto’s operations fell from last year’s 13.7% to a record low of 12.6%.

Teosto’s most important mission is to benefit professional music authors. We did very well with this mission: thanks to the large amount of royalties collected, the total distribution to Teosto’s author and publisher members increased by 16%, setting a new record of EUR 70.3 million. (2021: EUR 60.8 million).

Teosto’s strategy until 2025

In accordance with our vision, which was updated in spring 2022, we increase the cultural and commercial importance of music. The new strategy is based on five objectives, two of which are strategic enablers. 

Teosto's strategy

Teosto’s digitalisation journey continues

A key part of our strategy is building high-quality and modern digital services. In 2022, we continued digitalising our services and processes in order to be able to offer high-quality tools for dealing with matters and improving the customer experience.

Once completed, the project to overhaul our distribution and reporting systems, which started in autumn 2022, will ensure the continuity of our core functions and meet the needs of the digital environment of the future. The overhaul, which we have been preparing for since 2018, will be carried out over the next 2–3 years in cooperation with our supplier, the Irish company Spanish Point Technologies Ltd.

The project stage of the Teosto web service overhaul, which began in 2018, was completed in late autumn, after which we started overhauling the music publishers’ web service. We also carried out several smaller digitalisation projects.

Towards the parliamentary elections – culture has a future

Political decision-making and lawmaking set the framework for the development of the operating environment for creative industries. In 2022, we did advocacy work with a focus on the parliamentary elections and our goals for the government programme together with our member organisations the Finnish Music Creators’ Association, the Society of Finnish Composers and the Finnish Music Publishers Association. The results of this cooperation can be assessed by comparing them to the government programme that is eventually made.

We want to be a community that professional music authors and publishers continue to trust, and we also want businesses and organisations to keep using the music we represent. Teosto, which had its 95th anniversary this year, is more active and develops its services more than ever before in accordance with its mission – to ensure the success of professional music authors.  

Give us feedback!

Feedback from users is important when we develop our web services. Let us know your experiences of our service!

Change cookie settings

A cookie is a small text file that is stored on your computer or other device and records information about your visit to the Website. Teosto uses cookies to improve the usability of its services.

Information collected by cookies is not usually connected with the personal data of an identified person, but some information collected by cookies may be indirectly connected with the personal data of an identified person.

Learn more by reading our Privacy Policy and Cookie Policy

Cookie categories
Strictly necessary cookies

These cookies are strictly necessary to ensure the availability of our website. They do things such as load some of our website’s functions in advance to make the website load faster. Strictly necessary cookies are also used to determine and remember your settings. You can disable strictly necessary cookies in your browser settings, but please note that all of the website’s functions and parts may not work properly after that.
More information about cookies

Analytics cookies

We use analytics cookies to improve the functioning of our website. Analytics cookies collect information about things such as how visitors use our website and how they navigate from one page to another. The information is used in anonymous form.
More information: Privacy Policy and Cookie Policy

Functionality cookies

Functionality cookies allow us to offer various functions, such as playlists and a live chat service, on our website. If you disable functionality cookies, some or all of these functions may not work properly. More information about cookies

Marketing cookies

Marketing cookies help us tailor marketing and offer the users of our website more personalised services in the future. We use marketing cookies to collect information about the user’s behaviour and preferences on our website.
More information about cookies