The International Confederation of Societies of Authors and Composers (CISAC) has published its annual Global Collections Report, outlining another strong year for global royalty collections for creators.
The report provides ‘comprehensive data and analysis of collections across all repertoires’, including music, audiovisual and drama.
This year's report, which you can read in full here, reveals that global royalty collections for creators grew by 7.6% to a new high of €13.1 billion (£10.9 billion) in 2023.
CISAC’s report says this growth has been driven by a continued steady increase in digital income, as well as the ongoing strong recovery of live concerts and public performance following the COVID-19 pandemic.
Digital collections increased by 9.6% to €4.6 billion (£3.8 billion), while the streaming subscription market started to ‘mature’ in larger territories in 2023, according to CISAC. Digital made up 35% of total collections last year, compared to 30% for broadcast and 25% for live and public performance.
Despite this growth in royalties from digital platforms, CISAC found that the vast majority of creators cannot support their career or livelihood with their streaming income alone. ‘This is especially true for those outside the small coterie of highly successful artists, and those who cannot rely on other income streams, such as performing live, to build their career,’ the organisation said.
The live and public performance income stream, which includes concerts, exhibitions and licensing of venues and businesses, continued its recovery across all regions. Collections in this category grew by 22% in 2023, reaching an all-time high of €3.3 billion.
Speaking about the findings of the report, Andrea Czapary Martin, CEO, PRS for Music, said: ‘It is encouraging to read that CISAC’s latest report finds royalty collections for creators have increased to a new high of €13.1 billion in 2023.
‘We support CISAC’s call for a robust framework for AI and back the need for collaboration among tech companies, creators and policymakers, and outcomes which respect songwriters and composers and benefit us all.’
