News

STIM collections rose by 13% in 2021, fuelled by streaming


Tags:

STIM is the latest collecting society to report a double-digit increase in its collections for 2021.

The Swedish PRO released its latest annual report yesterday, revealing that its revenues grew by 13% to SEK 2.2bn ($213.2m) last year. That’s its second-highest annual total ever, with STIM hailing the impact of music streaming services, as well as collections from video-on-demand services. The society distributed SEK 1.8bn to songwriters, composers and publishers for the year.

In its report, STIM outlined some of the developments that helped its collections bounce back from the initial hit of Covid-19 in 2020. International collections continue to be strong, thanks to Swedish songwriters’ success around the world.

STIM has also launched a direct licensing service for Asia, and last year launched Cora Music, to help YouTubers licence music.

As with its peers, Covid-19 continues to affect STIM’s collections outside the digital sphere: revenue from concerts fell by 5% last year to SEK 37m – down from SEK 120m before the pandemic – with background music collections from public spaces and businesses falling by 6%.


Written by: Stuart Dredge