AUTODIA, faithful to its commitments to the steady increase of royalties and the effective management and protection of the musical works of creators, announces the Distribution of the 1st Half 2024, with a total gross amount of 9,619,635 euros.
Νet royalties amounting to 7,684,446 euros, increased by 36% compared to the corresponding 1st Half 2023 (July 2023), will be received by the members of the Society, i.e. the Greek composers, lyricists and music publishers, as well as by sister societies, while the dispatch of distribution reports starts imminently.
The General Assembly unanimously approved the Society’s financial & administrative report 2023
The annual Ordinary General Meeting that was successfully completed on Friday 5/7, unanimously approved the financial and administrative report for fiscal year 2023, as well as the exemption from liability of the members of the Board of Directors and Supervisory Body.
The Chairman Yiannis Glezos pointed out that AUTODIA enjoys on a stable basis the respect and trust of its Greek members, sister societies, as well as the Greek users, as the leading CMO of music rights in Greece.
The CEO Margarita Panagiotopoulou emphasized that 2023 was another year of stable and smooth development of the Organization at every level, which is reflected in the total revenues of the Society, amounted to over 25 million euros, increased by 48% compared to 2022. The upward trend is expected to continue further in the current financial year 2024, with the integration of more Greek repertoires and the consolidation of the Society in the market.
Relief Fund for Members and Assignors
During the General Assembly, it was announced by the Head of Legal, Ioannis Maragoudakis, that a Relief Fund is being established for the members and ordinary assignors of AUTODIA to deal with their extraordinary, urgent and livelihood needs, mainly related to their illness issues, as well as to support social, cultural and educational events. Applications with a complete file will be submitted from January 1st, 2025, and will be considered by the Board.
Distribution for 1H 2024: increase of royalties from all revenue sources
Distribution 1H 2024 includes the following revenue sources, all of which show a significant increase compared to 1H 2023: Public Performance, Concerts, TV, Radio, Cinemas, Online, Mechanical Rights, Synchro, Royalties from Abroad. Major Live Concerts have also recorded a significant increase of royalties.
The TV stations included in this Distribution are MAD TV, STAR and ERTFLIX, while a number of Radio stations, with Greek and foreign repertoire, have paid royalties to AUTODIA for various covered periods, such as Diesi, Melodia, Rhythmos, Sfera, Lampsi, Mousikos, Dromos, Athens DJ, Easy, Love, Mad, Kiss, Red, Rock, Galaxy, Hit etc.
There is a notable increase in this Distribution, both in royalties from music integrations in various audiovisual productions (television, cinema and advertising), as well as in royalties from mechanical reproduction, (either independent productions printed in factories in Greece and abroad, or processed sales clearances of record companies, members of the IFPI Hellenic Group such as Cobalt Music, Panik Records, Ogdoo, MINOS-EMI, The Other Side Entertainment Group, Walnut Entertainment, etc.)
An increase is recorded in the net amount of royalties in the 1H 2024 Distribution from online uses, compared to the corresponding 6 months last year, thanks to AUTODIA's successful collaboration with Mint Digital Services. Greek creators continue to receive royalties for the uses of their works on 50+ top DSPs (YouTube, Spotify, iTunes, Apple Music, Deezer, TikTok, etc.) from Greece and other 250 countries, as well as with The MLC regarding the mechanical royalties from the online uses of the Greek repertoire in the USA.
In addition, Netflix, as well as other audiovisual streaming platforms, such as Apple TV and Greek service Cinobo, joining AUTODIA’s clientele in the meantime, contribute to the further increase of its revenue in due course.
Representation agreements with 84 CMOs worldwide
AUTODIA collects and distributes royalties from CMOs in Europe, USA, Canada, Australia and Asia, having so far signed 84 representation agreements with leading societies around the world such as ASCAP, BMI, PRS, SACEM, GEMA, SUISA, STIM, ACUM, APRA, SOCAN, SABAM, BUMA/STEMRA, UCMR- ADA, JASRAC, UBC and many others.
The established trust of Greek users, the cumulative attendance of Greek creators and the reliable management of foreign repertoires of Organizations and large catalogs of music publishers, are now firmly reflected, as key indicators of AUTODIA’s development, in all its Distributions in the last 6 years 2018-2024.