New issue of Music & Copyright with Finland country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

SPECIAL FOCUS: Landmark collection results in a billion-pound record year for PRS for Music
UK authors’ society PRS for Music has reported its financial results for 2023. In something of a repeat of 2022, collections, distributions, and distributable revenue all increased to new highs, while the cost-to-income ratio remained at a historic low. The standout performance was the rise in collections from overseas, with income from Europe and North America increasing more than 20%. Receipts from Latin America were up sharply, while collections for the Middle East and Africa (MENA) region more than doubled. Music streaming added the biggest extra to the domestic revenue pot, with license renewals boosting the total. VOD income was also up year-on-year. All the main public performance sectors saw growth, with collections benefiting from inflationary increases to all sector tariffs. (View in full)

NEWS FEATURE: SME files lawsuit against Marriott to stop alleged rampant copyright abuse
SME has filed a legal claim against the Marriott hotel chain. The music company has accused Marriott of rampant copyright infringement by using many of its most popular works in video ads on social media as part of marketing campaigns. SME said it has identified close to 1,000 works used in videos posted by promotion staff employed by the chain or by social media influencers without the necessary permission. The music major said Marriott had consistently ignored numerous notifications regarding the need to sign a licensing deal to use any music content. SME has asked the court to impose damages either based on Marriott’s profits attributable to the infringements, or at the maximum statutory level of $150,000 per infringed work. (View in full)

SECTOR ANALYSIS: Streamed music has yet to kill radio’s star, but SiriusXM is showing signs of wear and tear
There’s plenty of life left in radio as consumers continue to tune in to music broadcasts. A soft advertising market has affected the media sector’s revenue, but a turnaround looks to be in the offing. However, satellite radio, a.k.a SiriusXM, is stuttering as subscribers turn away from the car-based service. Moreover, younger customers are finding streaming services much more appealing. SiriusXM has so far made a weak play for such consumers and needs to up its efforts. Focusing on music genres such as Latin and country could see the satellite radio service get the youthful traction it sorely needs. (View in full)

COUNTRY REPORT: Finland
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Finland music industry report. Finland is one of Europe’s smaller countries. Despite having a land area (338,462 km²) rivaling the region’s leaders, the population of Finland ended last year at just 5.5 million. In recorded-music terms, Finland sits just outside the global top 20. However, despite its modest ranking, the country is a market leader in the digital transition from ownership to access. Subscription services generate close to 80% of combined digital/physical trade income, and this share will rise further as the rise in vinyl sales slows, spending on the once-dominant CD album drops away, and downloads disappear. UMG maintained its position as the biggest recorded-music distributor, with the company’s share rising in 2023 after two years of decline. SME and WMG both lost ground, while the collective share for the independent sector increased for the second straight year. Royalty earnings collected by the authors’ society TEOSTO registered a record year, with gains for events and online audiovisual receipts boosting the total. Ticket sales to live music events were also up last year, although spending is yet to return to prepandemic levels. (View in full)

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