The first half of 2022 was characterised by the lifting of various strict measures taken because of the Covid-19 pandemic. These measures have had a major impact on the members and affiliates of BumaStemra in previous years.
The effects of these relaxations will be visible in the first half of 2022. Realised royalties are € 52.6 million higher than in the first half of 2021. In addition, royalties for 2022 are expected to be higher than budgeted. The budget is still based on the expectation that the royalties from events and festivals in 2022 will be around 70% of the level before the Covid-19 pandemic, which is expected to be exceeded. The budgeted distribution of € 223.1 million is also expected to be realised. The budgeted distribution in 2022 is € 26.9 million higher than the realisation in 2021. For a further explanation of the 2022 budget, we refer to 2022 Budget.
In this semi-annual report, we provide further information on current developments in 2022 and expectations for the coming period.
Royalties
The collection realised in the first half of 2022 was € 144 million. This is € 12 million higher than budgeted.Subsequent collection final settlements for previous years provide a positive difference of € 6 million compared to the budget. This is especially true for RTV and the international market.
In addition, positive market developments are visible (+ € 7 million). The increase of Vinyl is higher than expected, audiovisual commercials ensure an above-average collection and completed contract negotiations result in extra online growth. The Video on Demand market is also growing faster than expected.
Society is back to live. The festival season has now started and fortunately, live performances are back on again. For now, the public seems hesitant, but hopefully this attitude will change soon. Even lower visitor numbers are experienced in theatres and cinemas and the collection of work spaces is also lower than expected. The negative effects of Covid-19, particularly visible at the beginning of the year due to the lockdown, have largely been made up for. For some market segments, the collection realisation is lower than expected (- € 1 million).
The positive effects of the final settlements and the improved market conditions are expected to lead to a higher collection realisation in 2022 than budgeted.
The total collection realisation is expected to be between € 235 and € 243 million in 2022, depending on further market growth. This would be 15% to 19% higher than the realisation in 2021.
Distribution
The distribution in the first half of 2022 was € 11.7 million more than budgeted. The main reason concerns the higher distribution of old monies as a result of a reassessed distribution policy and BumaStemra’s continuous efforts to pay out the largest possible part of the collected copyright royalties to its rights owners at the first possible distribution moment.
Expectations for the second half of the year remain positive. Partly due to the extra scheduled distributions for indivisible funds and the additional scheduled distribution of the release of the Stemra provision approved by the GMM in May 2022, it is expected the annual budget will be amply achieved.
Management costs and investment result
The realisation of management costs in the first half of 2022 is € 2.9 million less than budgeted. This is partly explained by the lagging realisation of costs for strategic initiatives. The realisation of these costs is expected to be made up in the second half of 2022. Another cause is the lower internal staffing levels. In the current labour market it is proving difficult to fill vacancies. Over the first half of 2022, the number of FTEs employed was 17.9 less than budgeted.
The underspending of personnel costs will not be made up in the second half of 2022. This is the main reason that management costs in 2022 are expected to be € 1.1 million lower than budgeted, which amounts to € 32.0 million.
The investment result for the first half of 2022 amounts to € 24.3 million negative, well below the budgeted notional return. Negative investment results are absorbed in the provision for temporary differences in cost coverage in accordance with the policy approved by the GMM.
Internal affairs
In the context of the To the beat of the drum programme, the services of BumaStemra are being improved, in the course of which four starting points/objectives are decisive:
– Due to the changing trends in society, the services must be ‘fit’, now and in the future;
– Collectivity is promoted;
– The operation and organisation will be strengthened;
– BumaStemra is committed to growth: many composers are not yet affiliated and the foreign market is subject to change.
BumaStemra wants the composers, lyricists, publishers and music users to be happy to do business with the organisation, not because they have to, but because the service is good.
The Pyramid project (replacement of the complete IT backbone with a largely custom-made new environment) is one of the projects that have been started to achieve these objectives. It is a very extensive but necessary project that is being realised in collaboration with a London software company. Here too, Covid-19 caused a delay because of travel restrictions and the impossibility of face-to-face conversations in large groups (crucial in the case of large projects). The target end date of the project is now late 2023 rather than early 2023. In addition to Covid-19, a greater complexity than initially estimated and additional functionalities also caused delays. The delay and necessary strengthening of the project team’s expertise resulted in an increase of the necessary investment by € 3.8 million to € 17.5 million. Parallel to the implementation, we are investigating whether the new software, which is being developed for BumaStemra, offers opportunities for cooperation with other users in order to share the costs for further development.
In addition, we will be working on new Positioning in 2022; the organisation itself is evolving. The world is changing and BumaStemra moves along with these changes when it comes to technology, systems, working methods and the people who shape it. An important benchmark is the question of what behaviour is required to be a reliable partner for the members. We will work this out further in the course of this year.
In 2022, we will carry out a limited restructuring of the organisation, with all changes aimed at improving the service to members. It concerns an improvement in parts and not a major reorganisation. On the one hand, the objective of the reorganisation is to improve the connection with members and, on the other hand, to optimise internal processes.
The fourth company-wide project is Culture; because the world is changing, BumaStemra pays attention to culture. Culture provides people with tools to continue to provide top-level services.
Outlook
We look positively at the second half of this year in view of the positive developments in the area of royalties and distribution. By realising new strategic initiatives in the coming period, we hope to continue this trend next year.
Hoofddorp, February 2023
Bernard Kobes, CEO
Marleen Kloppers, CFO
* the half-yearly figures have not been audited by an external auditor
Movement in provision for temporary differences in cost-effectiveness 2024 Stemra
Movements in this provision in 2024 concerned a distribution of € 1.6 million and the positive net cost-effectiveness for 2024: € 0.5 million. The distribution of € 1.6 million concerned the difference between the level of the provision as at 31 December 2023 (€ 4.6 million) and the upper limit of the provision set for 31 December 2023 (€ 3.0 million). On 15 May 2024, the GMA approved the payment of this amount. The funding surplus is mainly due to the fact that the withheld administration fees were € 0.2 million higher than budgeted due to higher royalties and because management costs were € 0.3 million lower than budgeted. Other income and financial income together were € 0.3 million lower than budgeted. Since the budget for 2024 had already assumed a funding surplus of € 0.3 million, the total funding surplus amounts to € 0.5 million.
Movement in provision for temporary differences in cost-effectiveness 2024 Buma
The change in this provision in 2024 concerns the positive balance of cost-effectiveness for 2024: € 12.3 million. This surplus is mainly the result of the positive investment result, which was € 9.2 million higher than budgeted. Furthermore, due to higher royalties, the withheld administration fees were € 1.1 million higher than budgeted. Management costs were € 1.5 million lower than budgeted and (other) financial income together were € 0.5 million lower than budgeted. Since the budget for 2023 had already assumed a funding surplus of € 1.0 million, the total funding surplus amounts to € 12.3 million.
Abroad BumaStemra
2019
2020
2021
2022
2023
2024
Online BumaStemra
2019
2020
2021
2022
2023
2024
Radio & TV BumaStemra
2019
2020
2021
2022
2023
2024
The Radio, TV and Providers market segment showed a slight decline of € 0.5 million, reaching € 75.9 million. With 29% in 2024, this remains the market segment with the largest share of Buma’s total collections.
Compared to 2023, royalties from the Radio & TV category slightly rose by €7.4 million.
Provision for temporary differences in cost absorption Stemra
The movements in this provision in 2023 concern a distribution of € 1.7 million and the positive balance of cost coverage for 2023: € 0.6 million. The distribution of € 1.7 million related to the difference between the position of the provision as at 31 December 2022 (€ 5.7 million) and the upper limit of the provision set for 31 December 2022 (€ 4.0 million). On 17 May 2023, the GMA approved the payment of this amount. The funding surplus is mainly due to the fact that the withheld administration fees were € 0.6 million higher than budgeted due to the higher royalties. Management costs were € 0.5 million lower than budgeted, the other and financial income together amounted to € 0.1 million lower than budgeted. Because the budget for 2023 had assumed a funding shortfall of € 0.6 million, the total funding surplus amounts to € 0.6 million. The provision therefore ends at € 1.6 million above the upper limit set for the end of 2023.
Movement in provision for temporary differences in cost absorption 2022 Stemra
The movements in this provision in 2022 concerned a distribution of €9.3 million and the positive net cost absorption for 2022: €0.7 million. The distribution of €9.3 million related to the difference between the position of the provision as at 31 December 2021 (€14.3 million) and the upper limit of the provision (€5.0 million). On 25 May 2022, the General Members’ Meeting approved the payment of this amount.
The funding surplus was mainly due to the fact that the withheld administration fees were €1.0 million higher than budgeted due to the higher royalties. Management costs were €0.3 million lower than budgeted, the other and financial income together amounted to €0.4 million higher than budgeted. Because the budget for 2022 had assumed a funding shortfall of €1.0 million, the total funding surplus amounts to €0.7 million.
Movement in provision for temporary differences in cost absorption 2022 Buma
The movement in this provision in 2022 concerned the negative net cost absorption for 2022: €24.6 million. This was largely due to the negative investment result, which was €29.0 million lower than budgeted. On the other hand, due to higher royalties, the withheld administration fees were €3.6 million higher than budgeted. Management costs were €1.5 million lower than budgeted. Because the budget for 2022 had already assumed a funding shortfall of €0.8 million, the total funding shortfall amounts to €24.6 million.
Financial income and expenses Stemra
2021
2022
2023
2024
Stemra keeps its liquid assets in various freely withdrawable (savings) accounts. In 2024, € 0.3 million in interest was received.
Management costs trend (budget 2023)
Actual 2021
Budget 2022
Budget 2023
This standard focuses on the trend of the management costs level. The standard stipulates that the costs should not increase any more than the consumer index price of the year to which the annual report relates. The budgeted cost increase in 2023 is 20.1%. The actual CPI increase for 2023 will be known in early 2024.
The budgeted cost increase in 2023 is calculated in relation to the actual costs in 2022, which are lower than budgeted. The higher management costs in 2023 are caused by improvement and change initiatives, including the replacement of the IT system. Because the start was hampered by Covid-19 and tightness in the labour market, the expected growth in costs to make this possible has also remained limited in previous years. Improvements are expected in the 2023 budget.
Management costs vs distribution (budget 2023)
Actual 2021
Budget 2022
Budget 2023
Under this item, the management costs are related to the distribution. In the 2023 budget, this results in an expense ratio of 18.2% for Buma/Stemra. This is higher than in previous years, which is caused by the higher budgeted management costs in 2023 due to further professionalisation of the organisation. This is expected to lead to higher collection flows from 2024. This will then also have the effect of further increasing the distribution in the future, as a result of which the cost percentage in relation to the distribution is expected to decrease from 2025. Buma/Stemra applies the cost standard with regard to collection and not the cost standard with regard to distribution, because the latter offers the option of controlling.
Management costs vs copyright royalties (budget 2023)
Actual 2021
Budget 2022
Budget 2023
Under this item, management costs are related to the royalties. In the 2023 budget, this jointly results in an expense ratio of 14.6% for Buma/Stemra. Despite the rising management costs, this is lower than in the budget for 2022 (14.8%), which is caused by the higher royalties in 2023. The further professionalisation of the organisation is expected to lead to higher collection flows from 2024. This will also have the effect of further decreasing the cost percentage in relation to the royalties.
Movement in provision for temporary differences in cost coverage 2021 Stemra
The provision for temporary differences in cost coverage includes the €6.6 million appropriated reserve available at the end of 2020 plus the credit balance cost coverage over 2021 of €7.7 million.
This balance cost coverage includes a one-off gain of €7.1 million as a result of the amended Distribution Rules regarding the withholding of administrative fees. The administrative expenses were also lower than budgeted.
Movement in provision for temporary differences in cost coverage 2021 Buma
The provision for temporary differences in cost coverage includes the €33.8 million appropriated reserve available at the end of 2020 plus the credit balance cost coverage over 2021 of €10.7 million.
This balance cost coverage contains a €4.1 million difference between the realised investment result (€6.9 million) and the normative investment result used to partly cover the administrative expenses (€2.8 million). In addition, a one-off gain of €5.4 million was realised as a result of the amended Distribution Rules regarding the withholding of administrative fees, and the administrative expenses were lower than budgeted.
Management costs vs copyright royalties (budget 2022)
Actual 2020
Budget 2021
Budget 2022
Under this item, the management costs are related to the copyright royalties. The standard is 15%.
In the 2022 budget Buma/Stemra jointly will meet this standard with a 14.8% cost ratio. On the basis of the provisional cost allocation, Stemra is expected to arrive at a cost ratio of 15.9%.
A decline is expected once the incidental high costs of replacing the obsolete IT system normalise and the results of the strategy implementation become visible.
Management costs vs distribution (budget 2022)
Actual 2020
Budget 2021
Budget 2022
Under this item, the management costs are related to the distribution. The standard is 15%.
In the 2022 budget Buma/Stemra jointly does not meet this standard with a 15.8% cost ratio. This is mainly due to the COVID-19 impact on Buma’s funds available for distribution and the incidental high costs for the replacement of the outdated IT system. Once these effects normalise and the results of the implementation of the strategy become visible, this cost ratio is expected to decrease. Stemra is, however, expected to satisfy this standard in 2022.
Management costs trend (budget 2022)
Actual 2020
Budget 2021
Budget 2022
The standard focuses on the trend of the management cost level. The standard stipulates that the costs should not increase any more than the consumer index price of the year to which the annual report relates.
The budgeted cost increase in 2022 will turn out higher than the change in the consumer price index for the year. This is due to the catching up on improvement and change initiatives postponed from previous years, including the replacement of the IT system. The actual change in the consumer price index for 2022 will not be known until early 2023.
Changes in the appropriated reserve Stemra 2020
The deficit from ordinary activities for 2020 was taken from the appropriated reserve. The extraordinary expense for the payment into the Music Industry Emergency Fund was taken from the continuity reserve. This appropriation of the result is included in the financial statements.
Provision for temporary differences in cost absorption Buma
The movement in this provision in 2023 concerns the positive balance of cost coverage for 2023: € 17.0 million. This surplus was largely due to the positive investment result, which was € 11.5 million higher than budgeted. Furthermore, due to higher royalties, the withheld administration fees were € 1.4 million higher than budgeted. Management costs were € 1.8 million lower than budgeted and (other) financial income together were € 0.3 million higher than budgeted. Because the budget for 2023 had already assumed a funding surplus of €1.9 million, the total funding surplus amounts to € 17.0 million; the provision thus ends between the upper and lower limits determined for the end of 2023.
Management costs vs distribution (budget 2021)
Actual 2019
Actual 2020 (provisionally)
Budget 2021
Under this item, the management costs are related to the distribution. The standard is 15%.
In the 2021 budget, this standard is not satisfied. This is primarily because of Buma’s decreasing distribution in 2021, arising from the lower collection. Stemra is expected to satisfy this standard, however; distribution there is expected to increase, especially due to the catching up on private copy funds from previous years.
Management costs trend (budget 2021)
Actual 2019
Actual 2020 (provisionally)
Budget 2021
The standard focuses on the trend of the management costs level. The standard stipulates that the costs should not increase any more than the consumer index price of the year to which the annual report relates.
The budgeted cost increase in 2021 will turn out higher than the change in the consumer price index for the year. This is due to the catching up on improvement and change initiatives postponed from previous years, including the replacement of the IT system. The actual change in the consumer price index for 2021 will not be known until early 2022.
Over the series of several years, since the introduction of the standard, the development of the management costs has remained within the development in the consumer price index.
Management costs vs copyright royalties (budget 2021)
Actual 2019
Actual 2020 (provisionally)
Budget 2021
Under this item, the management costs are related to the copyright royalties. The standard is 15%.
In the 2021 budget, this standard is not satisfied, mainly because of the decrease in collection of royalties as a result of the coronavirus measures. The budgeted management costs are also increasing, especially in connection with the necessary replacement of the outdated IT system. Without the impact of the coronavirus, the expense ratio would have remained below the standard of 15.0%.
Publication
Head office
Saturnusstraat 46-62
2132 hb hoofddorp
T: 023 – 799 79 99
E: info@bumastemra.nl
bumastemra.nl
Editorial board
vereniging buma
Realisation
Merkelijkheid
Management costs Stemra
2019
2020
2021
2022
2023
2024
In 2024, Stemra’s management costs increased by € 0.5 million, reaching € 6.6 million. This is € 0.3 million below the budget for 2024. In 2024, the allocation key for management costs between Buma and Stemra was adjusted to 84/16 (this was 83/17). This increase in Stemra’s management costs is mainly due to the growth in the number of FTEs required to implement the new strategy and higher costs for the new IT environment.
Stemra’s management costs in 2024 consisted of personnel costs (€ 3.3 million), general costs (€ 3.2 million) and accommodation costs (€ 0.2 million).
Management costs Buma
2019
2020
2021
2022
2023
2024
In 2024, Buma's management costs increased by € 5.5 million, reaching € 35.0 million. This was € 1.5 million lower than the budget for 2024. In 2024, the allocation key for management costs between Buma and Stemra was adjusted to 84/16 (this was 83/17). General costs allocated to Buma increased by € 3.4 million, personnel costs by € 2.8 million and accommodation costs by € 0.1 million. Amortisation and depreciation decreased by € 0.8 million. The increase in costs is mainly due to the growth in the number of FTEs required to implement the new strategy and higher costs for the new IT environment.
Buma’s management costs in 2024 consisted of personnel costs (€ 17.3 million), general costs (€ 15.1 million), amortisation and depreciation costs (€ 1.7 million) and accommodation costs (€ 0.9 million).
Changes in the appropriated reserve Stemra 2019
The surplus of the operating statement for 2019 is added to the appropriated reserve. This appropriation of the result is included in the financial statements.
Changes in the appropriated reserve Buma
The difference between the realised investment result (€ 8.7 million) and the normative investment result that is used to partially cover the management costs (€ 2.0 million), i.e. €6.7 million, was added to the appropriated reserve. This appropriation of the result is included in the financial statements.
Changes in the appropriated reserve Buma 2019
The difference between the realised investment result (€ 15.9 million) and the normative investment result that partially covers the management costs (€ 2.2 million), i.e. € 13.7 million, is added to the appropriated reserve. This appropriation of the result is included in the financial statements.
Management costs trend
Actual 2018
Budget 2019
Budget 2020
The standard focuses on the trend of the management costs level. The standard stipulates that the costs should not increase any more than the consumer index price of the year which the annual report relates to.
Potentially, the 2020 cost increase due to initiatives for improvement and change will be higher than the CPI change in that year. This cannot be determined – and if necessary explained – until the actual CPI change is known at the beginning of 2021.
Management costs vs distribution
Actual 2018
Budget 2019
Budget 2020
Under this item, the management costs are linked to the distribution. The standard is 15%. This standard is met in Budget 2020.
Management costs vs copyright royalties
Actual 2018
Budget 2019
Budget 2020
Under this item, the management costs are related to the royalties. The standard is 15%. This standard was satisfied in 2022.
Management costs trend Stemra
2019
2020
2021
2022
2023
2024
Compared to 2023, Stemra’s management costs increased by 12.8% (€ 0.8 million). Over the same period, the consumer price index increased by 3.3%, which takes the cost increase in 2024 above the annual change in CPI. This is explained by the fact that the strategy was further implemented in 2024, for which additional costs are incurred temporarily. Examples of this are the increase in the number of FTEs and the replacement of the IT environment.
Management costs vs Distribution Stemra
2017
2018
2019
2020
2021
2022
Under this item, the management costs are related to the distribution. The standard is 15%. This standard was satisfied in 2022.
Management costs vs copyright royalties Stemra
2019
2020
2021
2022
2023
2024
Under this item, the management costs are related to the royalties. The internal standard is 15%. This standard was met in 2024.
Management costs trend Buma
2019
2020
2021
2022
2023
2024
Compared to 2023, Buma’s management costs increased by 18.7% (€ 5.5 million). Over the same period, the consumer price index increased by 3.3%, which takes the cost increase in 2024 above the annual change in CPI. This is explained by the fact that Buma has further implemented the strategy in 2024, for which additional costs are incurred temporarily. Examples of this are the increase in the number of FTEs and the replacement of the IT environment.
Management costs vs Distribution Buma
2017
2018
2019
2020
2021
2022
Under this item, the management costs are related to the distribution. The standard is 15%. This standard was satisfied in 2022.
Management costs vs copyright royalties Buma
2019
2020
2021
2022
2023
2024
Under this item, the management costs are related to the royalties. The internal standard is 15%. This standard was met in 2024.
Income Stemra
2019
2020
2021
2022
2023
2024
Income rose by € 0.4 million in 2024. This was mainly as a result of higher administration fees on collection (+ € 0.3 million), due to higher royalties in 2024.
Financial income and expenses Buma
2019
2020
2021
2022
2023
2024
In 2024, financial income and expenses mainly concerned the net investment result (€ 13.6 million). Both the return on equity investments (19.8%) and the return on fixed-income securities (4.7%) were positive. The positive investment result for 2024 is in line with the overall development on the investment markets.
Income Buma
2019
2020
2021
2022
2023
2024
Income rose by € 2.0 million in 2024. This was mainly as a result of higher administration fees on collection (+ € 2.1 million), due to higher royalties in 2024.
Distributed to CMO’s abroad Stemra
2019
2020
2021
2022
2023
2024
Distributed to rights owners Stemra
2019
2020
2021
2022
2023
2024
Addition to Fund for Social and Cultural Purposes
2019
2020
2021
2022
2023
2024
Distributed to CMO’s abroad Buma
2019
2020
2021
2022
2023
2024
Distributed to rights owners Buma
2019
2020
2021
2022
2023
2024
Abroad Stemra
2019
2020
2021
2022
2023
2024
At Stemra, too, royalties from abroad increased in 2023 compared to the previous year by a total of € 1.3 million, reaching € 5.3 million. In 2023, the process for determining collection was improved by making the determination of music use the leading factor. This temporarily resulted in lower collections in 2023, which was made up for in 2024. On average, over 2023 and 2024, collections from abroad will be at a
level comparable to 2022.
Home copy / Lending right / Graphic
2019
2020
2021
2022
2023
2024
In the Private Copy / Public Lending Rights category, € 1.3 million more was collected in 2023 compared to 2024. This was mainly caused by the fact that in 2023 there was a (one-off) subsequent payment from previous years.
Online Stemra
2019
2020
2021
2022
2023
2024
Revenues from Online music use continued to grow in 2024. As in previous years, Online accounts for the largest share in Stemra's collection in 2024 (45%). In 2024, Stemra’s collection from Online music use increased by € 5.7 million, or 31%. This is partly driven by the fact that we have contracted and/or connected more Digital Service Providers (DSPs) in our new IT environment in 2024, which means that more customers can be invoiced. In addition, the new IT environment can process more music use, including from older years.
Radio & TV Stemra
2017
2018
2019
2020
2023
2024
Compared to 2023, royalties from the Radio & TV category slightly rose by €7.4 million.
PIEB
2019
2020
2021
2022
2023
2024
Royalties from Productions In Own Management (PIEB) and Special Licensing rose by € 0.7 million compared to 2023, as a result of improved market conditions.
BIEM
2019
2020
2021
2022
2023
2024
Royalties from BIEM contracts for mechanical sound carriers, a traditional Stemra market segment, fell by € 0.2 million compared to 2023.
Abroad Buma
2019
2020
2021
2022
2023
2024
Royalties from abroad increased by € 5.4 million in 2024 compared to 2023. This is largely a temporary effect. In 2023, the process for determining collection was improved by making the determination of music use the leading factor. This temporarily resulted in lower collections in 2023, which was made up for in 2024. On average, over 2023 and 2024, collections from abroad will be at a level comparable to 2022.
Online Buma
2019
2020
2021
2022
2023
2024
Royalties in the Online market segment saw the largest increase in 2024: from € 39.9 million in 2023 to € 54.0 million in 2024. This is partly driven by the fact that we have contracted and/or connected more Digital Service Providers (DSPs) in our new IT environment in 2024, which means that more customers can be invoiced. In addition, the new IT environment can process more music use, including from older years. Due to the above factors, the Online share in Buma's total collection rose from 17% in 2023 to 21% in 2024.
Restaurants and bars
2019
2020
2021
2022
2023
2024
The Restaurants and Bars market segment was hit hardest by the Covid-19 measures and exceeded the 2019 level (€ 15.2 million) of royalties for the first time in 2023 (€ 15.9 million). In 2024, revenues rose further to € 17.0 million.
Workspaces, shops and stores
2019
2020
2021
2022
2023
2024
Revenues from Workspaces, shops and stores showed a further increase in 2024. Compared to 2023, revenues increased by € 1.9 million reaching € 40.4 million.
Live performances
2019
2020
2021
2022
2023
2024
Income from the Live Performances market segment amounted to € 49.0 million in 2024. This is a slight increase compared to last year (+ € 1.7 million). This is largely driven by higher ticket prices and an increase in the number of licensed performances and events, which increased from 73,000 in 2023 to 81,000 in 2024. The share of this market in Buma's total collection fell from 20% in 2023 to 19% in 2024, mainly due to the growth in revenues at Online.
Radio & TV Buma
2019
2020
2021
2022
2023
2024
The Radio, TV and Providers market segment showed a slight decline of € 0.5 million, reaching € 75.9 million. With 29% in 2024, this remains the market segment with the largest share of Buma’s total collections.