German collecting society GEMA has published its annual report for 2021, revealing that its revenues grew by 8.4% year-on-year to €1.04bn ($1.12bn). After expenses, its distributable amount grew by 9.9% to €886.5m ($957.8m).
That’s a bounce-back from the first year of the Covid-19 pandemic, although GEMA warned that “licensing income from music’s public performance and communication again fell significantly short of pre-pandemic levels”.
So, 2021 was a better year than 2020, but it’s still a case of partially offsetting performance shortfalls with online collections.
“The corona pandemic has accelerated the transition to digital. However, the growth in the online sector can only partially compensate for the losses caused by the pandemic,” said CEO Dr Harald Heker.
“Even though the results of the past year have exceeded our expectations overall, there is no reason for euphoria. It is foreseeable that the economic situation of many music creators will remain difficult as a result of the effects of the pandemic, even after the easing.”