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Music streaming was 2022’s top moneymaker for songwriters, composers

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Music streaming was 2022's top moneymaker for songwriters, composers By  Reuters
  1. Streaming became the largest source of income for composers and songwriters in 2022, surpassing other traditional sources.
  2. Collections for composers and songwriters increased by more than a quarter to 10.83 billion euros ($11.44 billion) in 2022.
  3. Digital royalty collections saw significant growth, surging by nearly 34% to 4.2 billion euros in 2022. This increase is attributed to more consumers subscribing to music and video services.
  4. Streaming collections have doubled from their pre-COVID levels and now account for 35% of total collections for music creators, surpassing TV and radio.
  5. Royalties from live and public performances, including concerts, exhibitions, and theaters, rose by 69.9% to 2.68 billion euros in 2022, rebounding from the pandemic impact. However, they remain below 2019 levels.
SourceReuters

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