The 2023 SCF financial statements closed at €50.8 million of performance rights distributed to members and collecting societies, recording a 25% increase in total distributions and a 48% growth in producer segment breakdowns.
After these last years focused on post-pandemic restart, 2023 proved to be decidedly positive for the collection of compensation despite the macroeconomic performance of the Italian country, which marked a slowdown in GDP growth, an invariance in consumption - still below the overall values of 2019 - and a growth in inflation.
After having recovered pre-pandemic volumes in the previous year, SCF's growth also continues in the area of collection of performance rights, which marks an important + 20%. Private copy distributed by SCF also rose by 41% in 2023, for a total of almost 13 million euros paid to rights holders.
These are significant results which place SCF as seventh in the global ranking (with an increase of two positions compared to the previous year) in a market which, according to IFPI data, represents almost 10% of total revenues from recorded music and in 2023 generated $2.7 billion globally: SCF's growth was well above the average performance of the rest of the top ten. This is an authoritative position that has allowed us to adopt measures of transparency and attention, from various interventions in favor of principals and users damaged by the pandemic to the new reduction in the fee from 19% to 17% started in 2024.
SCF is also growing in terms of associated producers (today equal to 531, a number growing by 4% compared to 2022) and the catalog base of 31.5 million high quality songs (+1.5M compared to the year previous). Relevant in this context are the international agreements stipulated by collecting, which are 29, and the mandates managed within the limits received from other collecting societies, amounting to 6.
“Despite the market uncertainties, we are very proud to be able to offer a constant and growing flow of revenue to our clients: the over 50 million euros shared are an important slice for the entire recording industry sector, representing the second source of revenue after streaming with a weight of 16.5%” declares Mariano Fiorito, SCF General Director. “I also believe that the 3-point increase in the percentage of analytical revenue distribution is a fundamental step forward for the rights protection, for the trust of our principals and in order to guarantee greater transparency and efficiency also through new investments in innovative IT solutions, in order to make the most of future growth opportunities."
“Another important result is linked to the analytical distribution in the broadcasting segment, which grew by 4 percentage points, leading to a practically complete management of the scenario, as highlighted by the 1,400 analytical reports for 2023: those left out are only radio stations with compensation so small as to make the distribution itself counterproductive".
On the occasion of the approval of the financial statements, the Board of Directors (including Andrea Cotromano, Corrado Filpa, Alessandro Massara, Gianluca Pojaghi, Raffaele Razzini) was renewed for the next three years, as well as the President Enzo Mazza, and the new Vice President Mario Limongelli was appointed.