“Transformed and ready to fight” SACEM publishes record earnings for 2022 – even if certain revenue categories remain below pre-pandemic levels

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Transformed and ready to fight SACEM publishes record earnings for | Richmcculley

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of France Society of Authors, Composers and Publishers of Music (SACEM) has reported record revenues of over 1.41 billion euros (currently 1.55 billion US dollars) for 2022, with revenues from streaming platforms and other digital sources reportedly increasing to 500 million euros (549.54 million US dollars).

In a recent annual report, SACEM outlined its financials and membership details for 2022. Of course, the society had previously noted declines in material collections (less than €1 billion/US$1.1 billion in collections in 2020 and just over that total in 2021) as COVID-19 lockdown restrictions decimated the live entertainment landscape, shutting down more than a few bars, restaurants and nightclubs.

Of the approximately €1.41 billion in collections in 2022, SACEM identified €492.6 million/$541.37 million from the above online category (up 37.6% year-on-year), 353, €1 million/US$388.06 million from TV & Radio (up 18.9% YoY), and €327 million/US$359.38 million attributable to “General Rights” (up 92, 8% YoY, but still less than before the 2019 pandemic).

The total of the URights owner’s collections in 2022 is €104.1 million/US$114.43 million from “private copying” (up 9.1% year-on-year) and €88.5 million/€97.26 million dollars from international usage (up 9.9% year-on-year); and €48.1 million/$52.86 million from the long-declining Phono/Video category (down 14.3% year-on-year). Previous year).

On the distribution side, SACEM – which reportedly has 210,800 members, of whom 14,100 joined last year and about 17% of whom are women – paid rightsholders about 1.06 billion euros ($1.18 billion) for 2022, as the source shows.

Notwithstanding an increase in personnel expenses of nearly €10 million/$10.99 million year-on-year to €134.7 million/$148.06 million for the 12-month period, the increase in revenue resulted in expenses 11, 7% of collections revenue – well below the percentages achieved by the Commission three years earlier, according to the analysis.

Elsewhere in the 36-page yearbook report, SACEM has doubled down on its “SACEM 3.0” optimization initiative, apparently underscoring its openness to AI-related earning opportunities. Specifically, according to CEO Cécile Rap-Veber, the Pianity-affiliated company is “exploring the prospects offered by AI and Web3 technology” by “experimenting with innovative solutions to create value in new creative playing fields”.

Composer and SACEM CEO Serge Perathoner issued a statement detailing the organisation’s 2022 balance sheet, making it clear that he believed “SACEM’s costs have never been so tightly controlled”.

“Thanks to the power of our tools and expertise in copyright management, we have been able to optimize the value of works by distributing more revenue to creators and publishers,” continued Perathoner, who is celebrating 50 years as part of SACEM.

“For the first time in its history, our society has distributed almost one billion euros to authors, composers and publishers who have placed their trust in us. “Transformed and combat-ready, Sacem is poised to achieve even greater value for its members,” he concluded.

PRS for Music highlighted a “dramatic recovery” from the pandemic and a related recovery in collections in late April, while CISAC (which has 227 members, including PRS for Music and SACEM) released its own annual report about a month ago.