Stockholm, Sweden. Credit: Anna Hunko
Thanks in large part to a more than 200% year-on-year increase in live revenue, as well as a 47% year-on-year increase in international streaming and UGC revenue, Swedish company STIM has reported a record high of over $250 million in royalty revenue (2nd quarter). .71 SEK) reported billion) for 2022.
The 100 year old International music agency of Swedish composers (STIM) today shared its 2022 Annual Report with Digital Music News. According to the comprehensive performance analysis, STIM distributed SEK 2.15 billion (US$198.72 million) of said amount to its 102,238 “affiliated rightsholders” during the year, specifically consisting of “98,322 individual rightsholders and 3,916 companies”.
And from The In the tranche, SEK 1.77 billion (US$163.60 million) went directly to “authors and publishers associated with STIM,” according to supervisors. Behind the broader collection total, STIM pointed to SEK 116.79 million (US$10.79 million) from live events, mostly related to concerts and festivals (SEK 107.44 million/US$9.93 million) – a subcategory up about 269 percent year-on-year, according to published figures.
Meanwhile, the Background category is said to be up 28.46 percent year-on-year at SEK 200.58 million (US$18.54 million), with some of the largest segment-specific increases (in percentage terms) coming from cinema usage (up 146 percent). (yoy) and hotels (up 61.34 percent yoy).
Next, broadcast license fees actually decreased slightly compared to 2021, to SEK95.89 million (US$8.86 million), while revenue from TV usage was almost flat year-on-year due to a decline of Swedish television revenue was largely offset by an improvement in foreign television, the document shows.
Finally, referring to the STIM financials for 2022, the ICE co-founder presented a significant year-on-year increase in the Online category (up 36.42 percent to SEK 1.10 billion/US$101.68 million) and at income from contracts with foreign companies (up 20.62 percent) at SEK 869.30 million/US$80.35 million).
“After lengthy negotiations,” the text explains the online growth, “STIM’s songwriters and publishers finally saw their first royalties paid out from TikTok in May 2022.” Elsewhere in the multifaceted realm reportCasper Bjørner, CEO of STIM, made it clear that despite the seemingly solid financial position, his organization will pursue a new strategy dubbed “Strategy 2030”.
“It’s crucial that we don’t stand still and keep doing the same thing just because STIM is doing well at the moment,” said Bjørner, who reported a total “including vacation pay and benefits” of SEK 3 million (about US$277,000 Dollars) from STIM last year.”We need to fully focus on the challenges ahead. We hope to finalize the strategy before the summer.”
In addition, STIM itself emphasized its continued investment (as part of the ‘STIM Forward Fund’) “in music promotion efforts in collaboration with FST, Skap and Musikförläggarna”, with this work being described as an attempt to “lay the groundwork for revitalization and diversity in Sweden “. music scene.”
“Nobody else in the industry has the same connections as we do,” said Bjørner. “We are in the unique position of knowing everything about commercial music usage, user behavior and the flow of money through the system. About what works and what doesn’t. It also allows us to predict a lot about the future and spot trends at both an individual and industry level.”