For the first time in its history the German Society for Musical Performing and Mechanical Reproduction Rights (GEMA), plans to distribute €1 billion ($1.1 billion) to composers, lyricists and publishers.
The government-mandated collecting and performance rights company based in Munich, achieved its best numbers yet in 2022, chairman of the board Harald Heker reported on Tuesday.
Total revenues rose by 13% to around €1.2 billion of which exactly €1.009 billion will go to creators and rights holders, according to the report.
One major cause was the end of coronavirus measures in spring 2022, which meant more concerts and performances were taking place again.
An increasing part of the revenue comes from streaming services. According to GEMA, total revenues now exceed levels previous to the pandemic.
“Creators, and nearly the entire music and cultural industry, had to make huge sacrifices in the past years and now truly deserve this success,” Heker explained.
GEMA holds the copyrights of around 90,000 members in Germany, as well as over 2 million rights holders worldwide.