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Collective Management Organisations

Kobalt’s revenue grew 13% in 2019/20 while the company reached profitability in 2020/21

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Music rights management company Kobalt said it had reached profitability in its current fiscal year ending June 30, 2021, although it did not disclose any specific figures. The company also reported that its gross collections grew by 13% to $703 million in the fiscal year-ending June 30, 2020.

In a statement the company said the march to profitability was reached by divesting from some money-losing assets and focusing on its core business. For many years the company had been posting losses...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Collective Management Organisations

Spanish rights society SGAE will host an international conference on AI’s impact on cultural industries March 14-15 in Madrid

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Spain's rights society SGAE (Sociedad General de Autores y Editores) will kick off the celebrations of its 125th anniversary with a conference on La propiedad intelectual y las industrias culturales ante la inteligencia artificial generativa (Intellectual property and cultural industries in the light of generative AI), to be held in Madrid March 14-15 at the Casa de las Alhajas in Madrid.

The conference is hosted by SGAE, via its Foundation and the Instituto Autor, with the support of Conse...

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Collective Management Organisations

US mechanical rates adjustments for the period 2018-2022 will lead to an additional $419.1m for songwriters and publishers

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The Mechanical Licensing Collective (The MLC), which administers mechanical rates in the US, has disclosed that is has collected $419.16 million in adjusted mechanical royalties for interactive streams that occurred between 2018-2022, as part of the “Phonorecords III” procedure.

The final rates determined by the Copyright Royalty Board (CRB) in August 2023 were largely “all-in”, which means that the total rate includes both mechanical and performance royalties. So of the full amount, $281.3...

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Collective Management Organisations

ASCAP collected a record revenue of $1.73bn in 2023, up 14.1% over 2022

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The American Society of Composers, Authors and Publishers (ASCAP) has disclosed that it collected a record-breaking $1.737 billion in revenue in the 2023 calendar year and allocated $1.592 billion for royalty distributions to its songwriter, composer, lyricist and music publisher members.

The US not-for-profit music rights society said it was the "highest revenue and royalty distributions" reported by any US performance rights organisation (PRO). The sum of $1.737bn in 2023 represented an in...

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