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Swedish collecting society STIM’s revenues grew 15% in 2019


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STIM is the main collecting society in Sweden, and like many of its counterparts around the world, it enjoyed healthy growth in its royalty collections last year.

According to its annual report, STIM’s revenues grew by 15% in 2019, to SEK 2.4bn (around $259m), with SEK 1.8bn paid out to songwriters and rightsholders. 38% of those revenues came from online sources, making digital the biggest single source of collections for STIM, ahead of TV (21%) and radio (14%). However, also like its counterparts, STIM is warning of a bumpy time to come for its members due to the Covid-19 pandemic, and its impact on royalty collections from live music and public performances in commercial businesses.

“Right now, we are completely focused on helping our affiliated rightsholders get through the crisis,” said CEO Karsten Dyhrberg Nielsen. “A few weeks ago, we approved the largest advance payment in STIM’s history and we have implemented several other parallel measures. In 2020, we must ensure that last year’s record-high revenue is paid out as planned and that our many negotiations with music users are not unnecessarily halted. 2020 must not be the year the music is silenced.” You can read STIM’s annual report here.

 

Image by kondr.konst / Shutterstock.com

Stuart Dredge

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