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Jem Aswad-Senior reports 2020 Music Drop Jem Aswad-Senior

CISAC Reports 10.7% Drop in 2020 Global Music Royalty Collections Due to Pandemic

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Jem Aswad Senior Music EditorGlobal royalties collections for music creators dropped 10.7% during 2020 due to the pandemic, declining by nearly €1 billion (approximately $1.16 billion) to a pre-2017 level of €8.12 billion (approximately $9.3 billion), according to the 2020 Global Collections Report published Wednesday by CISAC, the International Confederation of Societies of Authors and Composers.The collections were a setback after years of consecutive growth — including an 8% boost in 2019 to €9.17 billion— but under the daunting circumstances of the pandemic, which saw collections from live entertainment, bars, restaurants and other establishments plummet precipitously, most parties agree that the loss could have been a lot worse..

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Jem Aswad-Senior reports 2020 Music Drop
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