Worldwide royalty collections for originators of music, audiovisual, art, drama and literary works fell by 9.9% in 2020, with losses amounting to more than US1.4 billion as a result of the global pandemic.
Total collections fell to nearly $12.7B as lockdown measures saw live and public performance revenue nearly halve across the world, according to the latest annual Global Collections Report published by CISAC (International Confederation of Societies of Authors and Composers).
The decline was partly mitigated by a strong rise in digital royalties, reflecting the sharp increase in audio and video streaming consumption worldwide and strong licensing activity by many of CISAC’s member societies around the world.
Key trends reported include:
Live and public performance fell 45% to approximately $2.2B, with live concert revenue down by an estimated 55%
Digital collections rose 16.6% to $3.3B
TV and radio broadcast, creators’ largest income source, fell 4.3% to $5.1B
Music collections, comprising 88% of the total, declined 10.7% to $11.25B.