SCF Distributed 40.8 Million Euros of Neighbouring Rights in Italy in 2022
The Italian collecting society just approved the financial statements of last year. The collection reached 31.4 million Euros, surpassing pre-Covid figures
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In 2022, Società Consortile Fonografici (the collecting society protecting neighbouring rights in Italy) distributed 40.8 million Euros to right holders. SCF just approved the financial statements of last year and communicated the key economics.
The collection of neighbouring rights grew by 24% year-over year, reaching 31.4 million Euros and surpassing pre-Covid figures, particularly in the sector of Public Performance (+67% year-over-year, +4% over 2019).
The post-pandemic growth
2022 represented the year of restart after the pandemic, that heavily affected the collection in 2020 and 2021. Despite a decrease of 14% in the segment of Broadcasting (due to a stalemate in negotiations with a national broadcaster, according to SCF), the sector of Public Performance grew by 67% year-over-year.
In 2022, SCF completed the definitive distribution of 2020. A special attention has been given to analytics. Over 1.400 reports have been provided. The trend is growing, since they were 1.299 in 2020.
The catalogue of SCF
As of today, SCF represents 511 right holders (labels, artists, collecting societies). The catalogue includes over 30 million songs, also considering songs managed on behalf of international collecting societies.
SCF is the ninth largest company of such kind globally. According to IFPI (International Federation of the Phonographic Industry), the market of neighbouring rights generated 2.5 billion dollars in the world in 2022 (+8.6% year-over-year).
The statements of SCF
«I’m so glad of the results achieved by SCF in 2022. They showed the resilience of our company in such a challenging context», said managing director Mariano Fiorito. «It also highlights our ability to understand the opportunities of growth in an ever-evolving market. We keep paying great attention to analytics, consistently with the growing trend of last years, and to reduction of processing times, thus improving the operative efficiency of our processes».
He concludes: «The constant growth of our local and international associates is an encouraging signal of the trust that the right holders put in our services and competence. That allows us to look forward with optimism».
