Koda’s annual report 2021
Koda achieves highest turnover ever despite significant COVID losses
In 2021, the COVID pandemic continued to have significant financial consequences for Koda and for music creators. For the first five months of the year, most areas of society were largely shut down, and the impact of this lockdown is directly evident in Koda’s revenues from areas such as background music (restaurants, retail, etc.) and concerts. Koda’s calculations indicate that the lost revenues amount to at least EUR 22 million over two years when compared to 2019, the most recent pandemic-free year.
Even so, the year 2021 saw Koda achieving a seven per cent growth compared to the year before, as well as its highest-ever overall turnover. This was primarily due to the fact that a number of negotiations with other groups of rightsholders were concluded in 2021, triggering distributions for music performances in previous years – specifically in the field of television. Koda had a total turnover of EUR 138.8 million
, which means that a total of EUR 123.3 million
will be distributed to the rightsholders in Denmark and abroad whose music forms the basis for these revenues. All this is stated in Koda’s annual report, published on April 8.
This shows that Koda’s business is robust and healthy
‘Today, when we are once again gathering to enjoy concerts and other events, the COVID pandemic can seem like a distant, bad memory. But when we see, in black and white, just how many millions our members have lost due to the pandemic, it all feels far too close for comfort again. Even so, I am really pleased that we have managed to achieve an exceptionally good result. This shows that Koda’s business is robust and healthy, and that music is more important than ever in the lives of Danes – music never shuts down; it finds new ways and new places to keep on playing,’ says Gorm Arildsen, CEO of Koda, about the result for 2021.
Growth in streaming and in music performances abroad
The concluding negotiations were not alone in contributing to Koda’s progress in 2021. First and foremost, revenues within streaming of series, movies and television continued its progress from the previous year. Over the course of 2021, Danes took out new subscriptions to video streaming services and new services entered the market, bringing about a total increase in Koda’s revenues within this area of no less than 26 per cent.
Key figures for 2021
- Total turnover: EUR 138.8 million
((EUR 129.9 million in 2020)in 2020)
- Amount for distribution: EUR 113.7 million
(EUR 113.7 millionin 2020)
- Revenue, Concerts: EUR 5.7 million
(DKK 46 million in 2020)
- Revenue, Major Live Concerts: EUR 0.09 million (EUR 0.4 million in 2020)
- Revenue, Background: EUR 11 million
(EUR 12 million in 2020)
- Revenue, Streaming of series, film and TV: EUR 16.6 million
(EUR10.5 million in 2020)
- Revenue, Music streaming and download: EUR 11.6 million
(EUR 12.1 million in 2020)
- Revenue, TV: EUR 40 million
(EUR 19.4 million in 2020)
- Revenue, Streaming – direct licensing abroad: EUR 2.6 million
(EUR 0.2 million in 2020)
At the same time, revenues from abroad saw positive developments too, reaching their highest level to date. This was primarily due to an increase in revenues from music streaming. However, that increase does not mean that streaming of Danish music has experienced a significant upturn abroad. Instead, it reflects the fact that in 2020, Koda joined forces with our Finnish and Norwegian sister societies in Polaris Hub to enter into agreements directly with the multinational music services, rather than via the foreign collective rights management societies as before.
‘The results of our investment in Polaris Hub are becoming clearly evident this year. This set-up is the reason why we have achieved significantly higher revenues from abroad: the collaboration increases the accuracy of the payments made, while also ensuring that the money reaches Koda and our members much faster than before. I am therefore very pleased that we were able, in such a short time, to reap the benefits of our collaboration to secure our members’ income from abroad’.
Read more about Koda’s activities in 2021 in the Transparency Report
Annual report on Koda’s cultural contributions
For the second year in a row, Koda’s general annual report is supplemented by a report on the use and distribution of Koda’s cultural contributions. Among other things, the report offers insight
into how the contributions were managed and distributed across Koda and the four associations: Autor, DPA, DKF and Musikforlæggerne. It also breaks down information on prospective and successful applicants by categories such as gender, age and geography.