The International Confederation of Societies of Authors (CISAC) has announced that worldwide royalty collections for creators of music, audiovisual, art, drama and literary works fell by 9.9% in 2020 with losses amounting to more than € 1 billion as a result of the global pandemic.
According to the Global Collections Report, total collections fell to €9.32 billion as live and public performance revenue nearly halved across the world. However, the decline was mitigated by a strong rise in digital royalties, reflecting a sharp increase in audio and visual streaming around the world.
“When I took on the presidency of CISAC in May 2020, the subjugation of the creator was already a massive issue. Then COVID struck, highlighting two things. First, that streaming is fast heading towards being the most important source of creators’ earnings in the future. And second, that streaming revenues, however fast they grow, are currently simply not providing a fair reward when shared across millions of individual recipients,” said CISAC President Bjorn Ulvaeus.
For more highlights from CISAC’s 2021 Global Collections Report (for 2020 data), visit www.CISAC.org.