New report shows CISAC collected $8.8 billion in royalty fees in 2013
The International Confederation of Societies of Authors and Composers has reported that it collected $8.8 billion in royalty fees during 2013. The organization, which was established in 1926, works to protect the rights and promote the interests of creators around the globe.
Accounting for 87% of the agency’s collections is the music industry, which produced numbers in line with the recent emphasis on touring and digital sales. A 2.4% jump in performing rights royalties around the world attributed to a $6.8 billion total figure. Digital royalties also rose 25%, despite still not breaking 2012’s record of almost 26%. Not relenting its spot at the top, Europe still topped the Canadian-American market, the Asia-Pacific market, the Latin American & Carribbean market, and African market by attributing to over 60% of the year’s royalty totals.
Via: Billboard
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