The Sociedad Common de Autores y Editores (SGAE) has reported its highest annual revenues in its 125-year historical past.
The Spanish authors’ rights society collected EUR €390 million in 2024, representing an 11.7% YoY progress and a €41 million enhance in comparison with 2023, in accordance with the group’s newest monetary report.
SGAE’s annual assortment determine for 2024 converts to USD $422 million on the common annual alternate price printed by the IRS.
SGAE distributed greater than €349 million ($378m) to its songwriter, composer and music writer members final yr, marking the org’s second-highest distribution determine ever recorded.
The org says it has lowered administration charges for its members, leading to an extra €6.7 million ($7.25m) being returned to its members.
SGAE’s income progress was primarily pushed by digital, which was up 25% YoY, reaching €60.4 million ($65.36m) in 2024 (see under).
Inside this class, streaming particularly accounts for 55.6% of digital income, adopted by audiovisual platforms at 43.2%. The remaining 1.3% comes from web radio, downloads, and cell phone ringtones.
Broadcasting and cable generated the very best revenues collected by SGAE in Spain final yr, at €110 million (USD $119m), an 18.9% YoY enhance from the earlier yr. This progress was attributed to varied private and non-private tv channels settling their arrears.
Elsewhere, stay arts skilled a major enhance of 16.2% YoY, up from €55.2 million in 2023 to €64.1 million ($69m) in 2024.
The performing arts phase accounted for €12.4 million ($13.4m), seeing 13.2% YoY progress, whereas stay fashionable music reached €48.7 million ($52.7m), up 7.4% YoY.
Main live shows in Spain featured worldwide acts like Karol G on the Santiago Bernabéu stadium, and Bruce Springsteen and Metallica on the Riyadh Air Metropolitano.
‘Overseas’ [International] income set a brand new report of €35.2 million ($38m), representing a 15.4% YoY enhance in comparison with 2023.
The European market accounted for the biggest portion at €16.4 million ($17.7m), primarily from France and Italy, adopted by Latin America and the Caribbean at €10 million ($10.8m), and North America at €8 million ($8.65m).
Different notable achievements embody symphony performances exceeding €3 million ($3.2m) for the primary time in SGAE’s historical past, and income from bodily codecs growing by 11.8% YoY to succeed in €3.8 million ($4.1m), largely because of the resurgence of vinyl gross sales.
SGAE distributes authors’ rights to its members quarterly, with month-to-month distributions for digital platforms, performing arts occasions, and main live shows.
In SGAE’s ultimate distribution of 2024, a complete of 75,019 members, together with overseas societies, obtained revenue from their artistic works.Music Enterprise Worldwide
