BERLIN (CelebrityAccess) — German Society for musical performing and mechanical reproduction rights – GEMA announced record-breaking results in 2022, and the organization announced that distribution for the year will exceed the billion-euro-mark for the first time.
In all, GEMA recorded revenue of EUR 1.178 billion in 2022, up by more than 13% from 2021, with revenue far exceeding pre-pandemic levels. According to GEMA, financial performance in 2022 was driven by the lifting of restrictions on public gatherings, which led to a significant increase in revenues from public musical performances, combined with the growth of digital streaming.
While revenue from digital streaming improved in 2022, GEMA noted that income from music usage in radio and television fell slightly, coming in at EUR 325.1 million, down 3.9 per cent from 2021’s EUR 338.3 million. GEMA cited the strong increases in the previous year and accounting adjustments for the shortfall.
Total income is offset by expenses of EUR 168.6 million (EUR 152.4 million in 2021). The expense ratio including all costs was 14.3 percent, down slightly from 2021 with the expense ratio was 14.7 percent and well below the anticipated level for 2022 of 15.6 percent, GEMA said.
On the strength of revenue performance in 2022, GEMA plans to distribute EUR 1.009 billion to its members and rights owners around the world.
“Our members can expect a very pleasing level of distribution in 2023. Including our collection mandates, the distribution total will exceed one billion euros for the first time. This is a record result. The resurgence of events and music performances means a relief for our members after three hard years. Authors, like almost the entire music and culture industry, have had to make great sacrifices in recent years and now truly deserve this success,” stated Dr Harald Heker, Chief Executive Officer of GEMA.
