Teosto distributed more than EUR 25 million to music authors and publishers
Teosto has made its June distribution to music authors today, on 9 June 2022. The COVID-19 year 2021 was slightly better than the previous year, which has resulted in larger distributions. However, we are still far from what the distribution for a normal year would be. In total, the June distribution brings EUR 25.1 million for composers, lyricists, arrangers and music publishers.
Teosto makes distributions once every quarter. The June distribution mainly consists of royalties collected towards the end of last year. Some categories (smaller concerts and gigs, music used in plays and films, network PVR) of the June distribution cover the royalties for the entire year 2021.
The event category is recovering little by little – this year’s June distribution is EUR 4 million larger than last year’s
This year’s June distribution is EUR 4 million larger than last year’s June distribution. There was slight growth in categories including live music, concerts and events. However, most of the growth came from equalisation distributions, which are used to adjust royalties paid on the basis of estimates to match the actual accumulation of royalties.
In total, the distribution category of public performance grew by about 19% compared to last year, and the royalties increased from EUR 5.8 million to more than EUR 6.9 million.
There was a small decrease in foreign distributions, as the effect of the COVID-19 pandemic is delayed when it comes to foreign distributions. In 2021, the biggest sources of foreign royalties were Sweden, Germany, the USA, the UK, Norway and Poland.
Late 2021 gave the music industry a glimmer of hope for better times ahead, which is now reflected in the distribution. This summer already looks rather good for live music. We hope that COVID-19 restrictions are now a thing of the past and the entire music industry can now focus on building future growth,” says Risto Salminen, Teosto’s CEO.
Teosto collects royalties for the public performance, broadcasting and reproduction of music and distributes them to composers, lyricists, arrangers and music publishers. With this distribution, domestic music authors received a total of EUR 10.6 million in royalties. The rest of the royalties will be paid to foreign authors and publishers through international organisations.
The royalties paid in June 2022 were collected for the following categories of rights:
|Category of rights||June 2022 EUR mil.||June 2021 EUR mil.|
|Radio and TV||14.9||12.0|
|Multiple (foreign countries, corrections)||1.0||1.0|
In 2021, Teosto collected EUR 70.1 million in royalties for the use of music. In March 2022, nearly EUR 10 million in royalties was distributed, and after the June distribution of more than EUR 25 million, this year’s royalties are keeping pace with last year’s.
If COVID-19 restrictions are finally a thing of the past, and events and concerts can be held also after this summer, the forecast for the rest of the year is good. However, it should be noted that royalties are always paid after a delay, and royalties such as those coming from abroad may be delayed by up to a year.
This means that the amount of royalties is not likely to return to normal this year, but our outlook is cautiously positive.
More information about Teosto’s key figures and financial statements
- See our annual report and transparency report, which were published on 18 May.
Distributions are made four times a year
You can find out more about Teosto’s distributions on the Distributions page
The total amount distributed by Teosto varies depending on how comprehensively royalties can be collected in each music use area, and how quickly these can be allocated to the work to which they belong. Allocating the royalties requires work notifications submitted by music authors to Teosto for their own work as well as performance notifications or music use reports submitted by music performers and users.
The amount paid to an individual author depends on how many times their works have been performed and the author’s share of the royalty to be paid for the work. The amount varies from a couple of euros to thousands of euros. Teosto is constantly working on speeding up the royalty collection process so that royalties can be distributed as soon as possible after the music has been performed.
Teosto distributes royalties to its member composers, lyricists, arrangers and publishers four times a year. After June 2022, the next distribution will be made on 15th September 2022.