Buma/Stemra pays out new record amount to members in 2019
The financial figures for 2019 were presented Wednesday 26th August last during an online edition of the General Members’ Meeting. In addition, Marleen Kloppers was appointed as CFO and member of the board. We herewith would like to inform you about the most important aspects of the financial results for 2019 and the decisions that were taken at the General Members’ Meeting.
The annual figures of Buma/Stemra for the year 2019 once again showed an improvement compared to the year before. The revenues from musical performing rights went up in virtually all market segments, and reached a total of € 219.7 million in 2019, an increase of 3%. The members of the Board and the Supervisory Board were granted discharge from liability.
In 2019, a total of € 190.0 million was distributed. Of this, € 179.1 million in copyright royalties was paid out to copyright holders both inside and outside the Netherlands. The remaining € 10.9 million was added to the Fund for Social and Cultural Purposes. In 2018, the total was € 180.7 million. Distributions therefore went up by more than 5%. The administrative costs of € 26.2 million were over 10% lower than in 2018, and ended at 11.9% of the collected copyright royalties. This was well under the cost norm of 15% set for collective management organisations under the Supervision Act. With these results, Buma/Stemra has strengthened its international position as an effective and efficient collective management organisation.
Radio/TV was once more the biggest market segment with revenues of € 77.3 million. The Dutch Live Entertainment sector saw revenues go up by € 1.1 million in 2019, with collections reaching a total of € 35.2 million. The biggest increase compared to 2018 was seen in Online: a jump of € 7.5 million to a total of € 26.5 million.
Bernard Kobes, CEO Buma/Stemra: “The upward trend in the earnings of our rightholders that we have seen in recent years continued in 2019. The outlook for 2020, however, is bleak due to the impact of the coronavirus crisis. In particular, due to the sudden collapse in revenues from live performances and restaurants and bars, we expect to see a drop in earnings of 20% to 25% in 2020. Buma/Stemra has therefore started a number of initiatives to support our members, such as the Noodfonds Muziek. We also hope the government will continue to support this important economic sector in 2021.”
At this General Assembly, Marleen Kloppers was appointed as CFO and board member of Buma/Stemra. She will be taking over from Siebe van Elsloo in this role. Marleen Kloppers has more than 25 years’ experience as a financial manager/executive and supervisory director with a focus on financial management. In addition, Marleen Kloppers has experience in the management of ICT projects. Furthermore, she has experience at management and executive level in both commercial organisations and the non-profit sector.
Marleen Kloppers: “I am glad that I can put my knowledge and experience to good use for Buma/Stemra, and I am grateful for the vote of confidence I received when I was appointed during the General Members’ Meeting.”
Josephine de Zwaan, Chairman of the Supervisory Board Buma/Stemra: “The Supervisory Board would like to thank Siebe van Elsloo for his tremendous dedication and hard work for Buma/Stemra and the rightholders, and for the constructive working relationship. The appointment of Marleen Kloppers by the General Members’ Meeting was the culmination of a rigorous selection procedure. Marleen Kloppers showed us that she has an excellent understanding of the strategic issues and dilemmas facing Buma/Stemra, especially from a financial and ICT perspective. The Council of Members is delighted with her appointment and is looking forward to working together with her.”
You can find the annual financial figures for 2019 here and the figures for the first half-year of 2020 here.