Suisa reports higher income from concerts
Published: Thursday, Jun 20th 2024, 11:30
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Suisa, the cooperative society of authors and publishers of music, announced a record result for the past financial year on Thursday. For the first time, operating income rose to over 200 million Swiss francs. This also increased the amount distributed to music creators and publishers.
Suisa received a total of CHF 206.6 million in the 2023 financial year. Compared to the previous year, this represents an increase of 8.7 percent. Thanks to this record result, Suisa can distribute "more money than ever before in its history" to composers, lyricists and music publishers. The total distributed across the Group amounted to CHF 176 million, 9.8 percent more than in the previous year.
The total operating income is mainly attributable to the three business areas of broadcasting rights (CHF 62.7 million), performance rights (CHF 57.6 million) and online (CHF 47.3 million).
The development in the area of performance rights is remarkable. These 57.6 million francs are made up of income from concerts, parties and background music in stores, restaurants and bars. The largest increase was recorded in the concert sector with a rise of 43.7 percent to 27 million francs. Suisa wrote in its press release that two years after the pandemic, it had achieved the highest income in its history in this area. This shows that the pandemic has been overcome in the concert sector.
Income also increased in the area of online distribution of music in Switzerland and abroad. On the other hand, revenue in the largest business area with income from broadcasting rights stagnated compared to the previous year. Compared to 2021, they have fallen slightly. This reflects the fact that advertisers are increasingly opting for online advertising instead of placing commercials with broadcasters.
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