– Distributed EUR 35.4 million to sister societies abroad
The Norwegian collective management organisation TONO achieved record revenues of NOK 864.6 million in 2022, equivalent to approximately EUR 81.95 million. “We are especially pleased to see that concert revenues are back after two difficult pandemic years, and at their highest ever,” said Karl Vestli, CEO of TONO.
/ 30/05/2023 / Willy Martinsen(The figures in this text have been calculated in euros based on the exchange rate between the Norwegian krone and the euro as of 31 December 2022.)
The Norwegian collective management organisation TONO achieved record revenues of NOK 864.6 million in 2022, equivalent to approximately EUR 81.95 million. “We are especially pleased to see that concert revenues are back after two difficult pandemic years, and at their highest ever,” said Karl Vestli, CEO of TONO.
TONO, which manages copyright in musical works on behalf of composers, lyricists and music publishers, achieved its best results ever in 2022. The revenue amounted to EUR 81.95 million, up from EUR 79.99 million in 2021, representing an increase of 2.45 percent. Excluding COVID-19 compensation of EUR 3.2 million from the Ministry of Culture to TONO’s Norwegian members in 2021, the increase amounts to 4 percent.
Revenue in 2022 is EUR 18.95 million higher than five years ago, in 2017.
“We are pleased with the results for 2022 and are particularly delighted by the significant increase in concert revenue, reaching an all-time high of 9.85 million euros. We also achieved record income from background music and experienced growth in cinema revenue. In radio, TV and film and music streaming we have experienced strong underlying growth since 2020, with a 34 percent increase in radio and TV and a 60 percent increase in streaming. The slight decline in these areas from 2021 is due to several major settlements with various distributors that year,” said Karl Vestli, CEO of TONO.
TONO’s revenue is derived from the use of Norwegian and foreign music on radio, TV, at concerts, on music and film streaming services, in cafes, and other kinds of public music usage.
Broadcasting (radio, TV and third-party retransmission of TV and radio content) represents TONO’s largest area of revenue, generating a total income of EUR 33.02 million in 2022. Extraordinary settlements in 2021 resulted in a slight decline in the 2022 financial statement. Nonetheless, there is underlying growth, with a 19.2 percent increase since 2020 in this sector.
Similarly, there was a marginal decrease in revenues from music and film streaming services compared to 2021 for the same reason. Extraordinary settlements in 2021 positively affected the figures. TONO’s revenues from these services amounted to EUR 21.22 million in 2022, down from EUR 21.56 million the previous year. The revenues were nonetheless 60 percent higher than in 2020.
An increasingly significant proportion of TONO’s internet revenues is derived from TONO’s direct licensing of services through Polaris Hub, owned by Koda (Denmark), Teosto (Finland) and TONO.
“TONO’s revenues from music and film streaming services have grown by 70 percent over five years. However, it is important to note that streaming is an area where there is significant disparities between members with high streaming volumes and members with a narrower audience. Most of our members have a minimal income from streaming and do not regard it as an area that offers fair payment,” said Vestli.
After two challenging pandemic years, TONO experienced a surge in concert revenues, with a growth of 138 percent from 2021, reaching a record high of EUR 9.85 million, up from EUR 4.14 million.
TONO distributed 35.4 million to foreign sister societies, an increase of 25 percent compared to 2021. The countries to which TONO sent the largest amounts were Sweden, the United States and the United Kingdom. It is worth noting in this context that a significant proportion of the funds sent to the Swedish collective management organisation STIM relate to an Anglo-American repertoire that is sub-published in Sweden.
TONO’s transparency report and annual report were published on TONO´s website on 23 May.
About TONO
TONO was established in 1928 and is a non-profit cooperative owned and governed by composers, songwriters and music publishers. It manages the economic rights of their musical works. TONO grants licenses for the use of protected music on radio, TV, internet, concerts, cinemas in exchange for payment. Each year, TONO distributes its financial results to rights holders of music that has been performed in public. TONO has over 39,000 members in Norway, but it also works on behalf of millions of composers, lyricists and music publishers worldwide. TONO provides music creators with a financial foundation to create new music and facilitates the licensing of protected music for music users. In 2022, TONO had a revenue of NOK 864.6 million (approx. EUR 81.95 million).
For further information, please contact:
Willy Martinsen, Director of Communications at TONO on +47 909 65 254, willy.martinsen (at) tono.no