New record year for Gramo!
We are proud to announce an impressive record year in 2022 with a growth of 10 percent. A total of NOK 151 million was distributed to licensees, an increase of NOK 14 million compared to the previous year. After a demanding period with the pandemic, we are now approaching normal levels.
2022 ended with operating revenues of NOK 237 million and a profit of NOK 197 million.NOK 45.6 million in fees is transferred to the Fund for Performing Artists.Since 2018, Gramo has distributed almost NOK 1.1 billion.
Solid increase in corporate music use
- "Looking at the figures for last year, it is gratifying to see that the use of music in hotels, shops and restaurants (public performance) is back to the same level as before the coronavirus pandemic," says Kim Skarning Andersen, General Manager. "Gramo has had a very good dialogue with the market throughout a tough period. This has contributed to an increase of 23% in this area.
A total of NOK 74.3 million was paid from public carry-forward in 2022.
Gramo has signed agreements with more than 16,000 companies that pay for the use of music, and more than 1,600 new corporate agreements were signed last year. In addition, we have signed agreements with several companies that offer tailor-made music experiences for various industries.
Also growth within broadcasting
The broadcasting area has also contributed to good growth, with an increase of NOK 8 million in 2022. This is a growth of 8 percent compared to the previous year. A total of NOK 117.3 million was paid to Gramo last year, and it is the national broadcasters that account for the largest increase.
Gramo collects royalties from 30 national radio stations and more than 300 local and district radio stations.
Last year, we processed 170,000 hours of radio-played music and almost 120,000 recordings were connected and settled through our systems.
- In addition to delivering a record result in 2022, Gramo has never paid out royalties to artists, musicians and producers as quickly and accurately as last year. In total, well over 90% of the royalties were paid to individual rights holders," says Andersen.
Increased focus on international cooperation
Remuneration from abroad also increased slightly in 2022, to almost NOK 7 million. With an increasingly global music market, Gramo will intensify its international collaboration in 2023.
- "The global music market is becoming increasingly important for Norwegian artists, musicians and producers. Gramo will therefore intensify its efforts to enter into international agreements, and we expect solid growth in revenues to and from abroad in the years to come," Andersen concludes.
We are proud to have delivered a record result in 2022 and would like to thank all our musicians, producers and partners for their continued support and trust. Our commitment to pay royalties as quickly and accurately as possible has never been greater, and last year over 90 percent of royalties were paid to individual rights holders.
Gramos annual report for 2022 can be readhere.
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