GEMA's revenue rose 8.4% in 2023 to 1.28 billion euros ($1.4 billion), the German collective management company (CMO) said on April 8, and for the second year in a row it will distribute more than one billion euros to its members – €1.08 billion ($1.17 billion) to be exact. This revenue was offset by an expense ratio of 15.2%, up from 14.3% last year at a time of relatively high inflation of 5.9% in Germany.
“2023 will go down as the most successful financial year in GEMA's history to date,” said GEMA CEO Tobias Holzmüller. “Despite the strained economic conditions, we have worked to minimize costs and once again increase distributed funds. This sends an important message to our 94,000 now
members: You can count on your GEMA.”
GEMA is the first of the major European CMOs to announce its results for 2023 and they could be a sign that the growth of the last two years is starting to slow down. The revenue growth of the CMO in the long term was
it was fueled by the success of streaming, as well as competition in most major markets, but got a big boost in 2021 and especially 2022 as the concert returned in the wake of COVID. Last year, GEMA's revenue grew by 13%, SACEM grew by 34% and PRS by 23%. (It is difficult to make meaningful comparisons between CMOs, as their results include different forms of income and are calculated using different
accounting methods and in some cases different currencies.) PRS, the UK CMO, is expected to report its results in about a month, while SACEM usually does so a little later in the year.
GEMA's biggest source of revenue was public performances, which rose 24% to 444 million euros ($480 million). This is followed by radio and television, down 6.2% to 304.8 million euros ($329.7 million). online, up 3% to €310.3 million ($335.7 million). statutory compensation, which consists of contributions to white means, incl
computers and tablets and legal dispute resolution, up 26.2% to 73.2 million euros ($79.2 million). and mechanical rights to physical media, down 18.4% to €44.7 million ($48.4 million). (These currency conversions were calculated using the average euro to dollar exchange rate for 2023, which was 1.082, which also happens to be the rate as of April 8.)
from our partners at https://www.billboard.com/business/business-news/gema-reports-record-results-revenue-1235651223/