Worldwide royalty collections for creators of music, audiovisual works, visual arts, drama and literature are likely to decline this year by up to 35% – or €3.5 billion in lost income – according to the latest annual Global Collections Report published by CISAC (International Confederation of Societies of Authors and Composers).
The report, titled “COVID-19: Crisis, Resilience, Recovery”, shows how creators have been impacted by the pandemic and analyses the continuing effects on their income well into 2021.
Main data higlights:
- Royalties from concerts, venues and public performances are forecasted to decline by 60-80% in 2020.
- Music income for songwriters and composers are expected to decline by 20-35% in 2020.
- The impact of the pandemic is expected to remain long into 2021 and beyond.