Global creators’ royalties up 7.6% to new high of EUR13.1 billion in 2023
Global royalty collections for creators grew by 7.6% to a new high of EUR13.1 billion in 2023. The increase was driven by continued steady growth in digital income and a strong recovery in live concerts and public performance which became the last sector to recover fully from the pandemic.
Following a decade of annual double-digit percentage growth, digital collections increased by a more modest 9.6% to EUR4.6 billion, with the streaming subscription market starting to mature in larger territories.
Having overtaken TV and radio to become creators’ biggest income stream in 2022, digital moved further ahead in 2023, making up 35% of total collections. This compares to 30% for broadcast and 25% for live and public performance.
Despite the growth in royalties coming from digital platforms, the vast majority of creators say that streaming income cannot support a career or livelihood. 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.
Royalty collections from TV and radio broadcasters fell by -4.0% in 2023 and were a mere +0.7% above their 2019 level, reflecting the decline in viewer numbers and TV advertising income.
The Live and Public Performance income stream, which includes concerts, exhibitions and licensing of venues
and businesses, continued its robust recovery across all regions. Collections in this category grew by 22% to reach an all-time high of EUR3.3 billion.
These are the key highlights of the 2024 Global Collections Report published by CISAC (International Confederation of Societies of Authors and Composers). The report provides comprehensive data and analysis of collections across all repertoires, including music, audiovisual, visual arts, literature and drama.
This Report gives a unique overview of the economic and cultural value of our global CISAC community. This year’s figures, for royalties collections by CISAC members in 2023, paint a positive picture of a healthy, stable and promising sector. Overall, collections on behalf of creators reached a new all-time high of EUR13.1bn, an impressive 7.6% increase. This, in itself, is a major achievement and shows the strength of the collective management system.
Today, we are on the cusp of an enormous change. AI is shaking up our landscape, and, even as it does so,nits impact is still unknown. Generative AI tools are producing contents that are copied from, and risk replacing, the works of human creators. I am a user and a big fan of AI tools. I have always believed we can only ever embrace new technology, not try and stop it – but there is a rock-solid caveat: this must never be at the cost of compromising copyright and human rights. The recent studies estimating what this could cost to creators in lost income, from France, Germany, Australia and New Zealand, are an alarm call to us all. I believe that a badly-regulated AI environment could wipe out many artists’ careers. That could be the next Paul McCartney or Taylor Swift.
This 2024 CISAC Global Collections Report shows a successful performance by the CISAC global network, and we should take a moment to celebrate our achievements. However, it is essential that we elevate our ambitions further. We have to firmly reject the notion that creation—whether in music, audiovisual, visual arts, literature, or drama—is merely a commodity or a tool in the attention economy. Our market environment is full of uncertainties, and while we take pride in present growth, our priority now needs to be long-term sustainable growth to ensure the livelihoods of the creators we represent
Further highlights:
- Insight into the pandemic’s impact: gathered by CISAC from 100 member music societies revealed a marked difference in the performance of live concerts and background music. Live music royalties have risen by 24.0% since 2019, while background has increased by a more modest 6.1%. Other live income channels, such as karaoke, have yet to recover from the pandemic.
- Broadcast declining but resilient: Despite no longer being creators’ main income stream, TV and Radio collections remained resilient last year (-0.4%).
- All repertoires covered by CISAC member societies grew in 2023, with the exception of visual arts which suffered from a weaker art market. Drama was the fastest-growing repertoire for a second successive year, with income increasing by 24.9% as theatre and drama performances continued to recover after the pandemic. Music was the biggest sector, rising by 7.6% to EUR11.75 billion.
- Collections increased in every region, led by Latin America which saw a 29.2% increase to EUR791 million. This was helped by strong local repertoire in major markets including Brazil and Mexico. Western Europe remained the biggest region with income increasing by 7.9% to EUR6.7 billion and accounting for 50.9% of all collections.
About CISAC
CISAC – the International Confederation of Societies of Authors and Composers – is the world’s leading network of authors’ societies (also referred to as Collective Management Organisations, or CMOs). CISAC protects the rights and represents the interests of creators worldwide. With 227 member societies in 116 countries, CISAC represents over
About PRS for Music
Here for music since 1914, PRS for Music is a world-leading music collective management organisation representing the rights of more than 175,000 talented songwriters, composers and music publishers. Redefining the global standard for music royalties, PRS for Music ensures songwriters and composers are paid whenever their musical compositions and songs are streamed, downloaded, broadcast, performed and played in public.
For 110 years it has grown and protected the rights of the music creator community, paying out royalties with more accuracy, transparency and speed. In 2023, PRS for Music paid out £943.6m in royalties and collected a record £1.08 billion in revenues. prsformusic.com
