27 June 2023

SCF Board Approves 2022 financial statements, Collections Reach Pre-Pandemic Levels

SCF approved the 2022 Financial Statements in April, which closed with 40.8 million distributed in royalties to members, principals, and artists' collecting societies. The collection of related rights saw a significant increase of 24%, reaching a total value of €31.4 million. This surpasses pre-Covid levels, particularly in the Public Performance sector, which grew by 67% compared to 2021 and 4% compared to 2019.

The company continues to grow its client base and catalogue of represented works. In 2022, SCF represented 511 clients and over 30 million works, including those managed on behalf of international collecting societies.

SCF ranks as the ninth largest collective management organisation in the world. According to the latest IFPI data, the global market for neighbouring rights generated $2.5 billion in 2022, with a growth rate of 8.6%.

2022 was a year of recovery for SCF in terms of revenue collection from users. The difficult pandemic period had caused a decline in revenue in 2020 and 2021.

Despite a 14% decline in the broadcasting segment due to stalled negotiations with a major national TV broadcaster, the public performance sector saw a significant increase of 67% compared to 2021.

In 2022, SCF finalised the 2020 distribution and processed claims for 2021 uses. The company continues to focus on detailed royalty statements, providing 1,433 statements in 2022 (up from 1,299 in 2020) with increasingly tight processing times.

General Manager Mariano Fiorito commented: "I am very satisfied with the results achieved by the company in 2022, which demonstrated the resilience and adaptability of our organisation in a challenging environment. This result highlights our ability to seize growth opportunities in a constantly evolving market. We have continued to pay great attention to detailed royalty statements, in line with the continuous growth trend of previous years, and to reducing processing times, thus improving the operational efficiency of our processes. The continuous growth of our local and international clients is an encouraging sign of the trust that our rights holders place in the services and expertise of our company and allows us to look to the future with optimism."

Bilanci di esercizio SCF

SCF Board Approves 2022 financial statements, Collections Reach Pre-Pandemic Levels

SCF S.r.l. - Via Leone XIII, 14 - 20145 Milano | Contacts
C.F. - P.IVA 12925820156 - Electronic invoicing code: MJEGRSK
Fax +39 02 46547500 - Toll Free Number: 800767875