Covid, in 2020 in the world lost 1 billion of royalties

As a result of the pandemic, worldwide royalty collections for creators of musical, audiovisual, visual arts, theater and literature declined by 9.9% in 2020, with losses exceeding € 1 billion. This was revealed by the latest Global Collections Report by CISAC International Confederation of Societies of Authors and Composers, published today and disseminated by Siae. Total receipts fell to € 9.32 billion as a result of isolation measures that have resulted in nearly half the revenue from live performances and public performances around the world. The losses, it is specified in the report, were partially mitigated by a significant increase in digital royalties,reflecting the significant increase in audio and video streaming consumption worldwide and strong licensing activity by many CISAC member companies around the world. In particular, public and live performances decreased by 45% to € 1.6 billion, with an estimated 55% drop in receipts for live concerts; digital collections, on the other hand, increased by 16.6% and amounted to 2.4 billion euros; radio and television broadcasting, the source of the highest revenue for creators, fell by 4.3% to 3.7 billion euros; receipts for the use of musical works, which represent 88% of the total, decreased by 10.7% to reach 8.19 billion euros. The crisis caused by Covid "it was the worst ever experienced by the entertainment sector and it is a wound that will heal with great effort - comments the Dg SIAE Gaetano Blandini - The missed receipts of our Company are the mirror of as many missed receipts for the authors, the editors, the performers and all those who produce culture, entertainment and entertainment in our country ". As an Italian Society of Authors and Publishers, continues Blandini," it is our precise duty to ensure that everything possible is done so that the artistic and cultural heritage, which significantly contributes to the economic growth of our country, receives the right attention in terms of strategies, planning and financial support, so that the sector can resume its path of growth ". It is necessary, he concludes,"a systemic vision and an idea of ​​shared development to activate a real restart with particular attention to creative workers and their specific needs, recognizing, measuring and supporting the entrepreneurial effort in this sector which is so important for Italy "