TONO collected a record EUR 88.8 million in 2021
TONOs collections for 2021 increased by 18.9 percent compared to 2020 and ended at all-time high for the company at EUR 88.8 million. Administration costs totalled 10.6 percent of revenue.
Covid-19 restrictions resulted in the lowest concert revenues for TONO since 2010. However, strong results from broadcasting, music and film streaming services contributed to a substantial growth compared to 2020. TONO’s gross turnover in 2021 came to NOK 843 967 603 (approximately EUR 88,8 million). This is the strongest result in TONO’s history, and an increase of 18.9% from 2020.
“In times marred by lockdowns, we are happy to report a record turnover in 2021. However, we are painfully aware that the second year of Covid 19 restrictions was a very difficult year for most music creators, both in Norway and abroad. In Norway, the Live sector came to a standstill, which resulted in important losses for TONO’s members who heavily rely on this revenue source. The impact can be seen in TONO’s Concert revenues, which totalled EUR 4,54 million, the lowest since 2010” says Cato Strøm, TONO’s CEO.
Negatively impacted areas: Background music and Cinema
The Covid-19 restrictions did not only affect TONO’s Concert revenues in 2021; the Cinema segment and most background music users, like hotels, restaurants, shops etc were also penalised.
“The revenue decreases were expected. The earnings from our Sister Societies amounted to EUR 7.6 million, down from EUR 10 million in 2020. This negative impact is partly due to lower Live performance activity, but also because TONO is now direct online licensing its repertoire in Europe and other territories through Polaris Hub, which is owned by TONO, Teosto and Koda” explains Strøm.
Strong results from Broadcasting and Streaming
Broadcasting and Online figures reached a record high in 2021. Radio and Television generated EUR 30,5 million, up from EUR 20,4 million in 2020; this increase is also due to the settlement of a major court case with National broadcaster TV2.
Revenue from Film and Music streaming services amounted to EUR 24 million up 62.4 percent from 2020. This significant increase is thanks to several agreements being reached and an important settlement after a lengthy dispute.
“We have seen good growth from film and music streaming services. At the same time, we are starting to see the results of TONO’s licensing of its repertoire directly to streaming services worldwide. TONO’s members have suffered substantial Covid-19 related losses in several areas, but most significantly in the concert area. We have documented these losses for our government and the parties have agreed on a compensation of EUR 3,5 million to Norwegian members of TONO” says CEO of TONO, Cato Strøm.
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TONO 2021 in numbers
- Cost ratio for 2021 was 10.6 per cent of gross turnover in 2021, compared with 13.8 percent in 2020.
- TONO signed up 1,549 new members in 2021.
- TONO had a total of 37,439 members at the end of 2021.
- TONO members registered 32,219 new works during 2021.
- TONO paid out royalties to 27,911 of its Norwegian members in 2021.
TONO’s annual report will be published on TONO.no on or around 25 May.
TONO was established in 1928 and is a non-profit collective management organisation (CMO), owned and governed by creators (composers, lyricists, songwriters), and by music publishers, on whose behalf TONO manages financial copyrights to their music. TONO licenses the public performance of copyrighted music on radio, TV, internet, concerts, and the cinema, etc. for a fee. Each year, it transfers its financial profit from music that has been played in public to the music rights holders. TONO has more than 37,000 members in Norway, but it also represents millions of creators and music publishers around the world. TONO provides music creators with a financial foundation for creating new music, and it simplifies the licencing process of copyright-protected music for music users. TONO had a turnover of NOK 843.9 million in 2021.
For more information:
Director of Communications Willy Martinsen, willy.martinsen (a) tono.no, mob. +47 909 65 254
CEO Cato Strøm, cato.strom (a) tono.no, mob. +47 922 16 319