SGAE Achieves Record Income Milestone
General de Autores Y Editores (SGAE) announced its highest annual income in its 125-year history.
In 2024, the Society of the Law of the Spanish authors collected 390 million euros, which represents 11.7% year increase and an increase of 41 million euros compared to 2023, according to the latest financial report of the organization.
The annual SGAE collection indicator for 2024 converts into 422 million US dollars at the average annual exchange rate published by the IRS.
SGAE distributed more than 349 million € (378 million US dollars) last year to its authors, composers, and members of music publishers, marking the second-largest figure of distribution ever recorded by the organization.
SGAE has reduced administrative fees for its members, leading to the return of an additional 6.7 million euros ($7.25 million).
SGAE’s revenue growth was primarily attributed to digital, which grew by 25% year, reaching 60.4 million (€65.36 million) in 2024.
Income Sources and Growth Areas
Within this category, streaming accounts for 55.6% of digital income, followed by audiovisual platforms at 43.2%. The remaining 1.3% comes from internet radio, downloads, and mobile phone ringtones.
Broadcasting and cable generated the highest revenue collected by SGAE in Spain last year, amounting to 110 million euros ($119 million), reflecting a 18.9% year increase compared to the previous year. This growth was attributed to various state and private television channels settling their debts.
Live arts witnessed significant growth of 16.2% year, rising from €55.2 million in 2023 to 64.1 million euros ($69 million) in 2024.
The performing arts segment was valued at 12.4 million euros ($13.4 million), demonstrating a 13.2% year increase, while live popular music achieved 48.7 million euros ($52.7 million), up by 7.4% year.
Major concerts in Spain showcased international acts, including Carol G at the Santiago Bernabeu stadium, alongside Bruce Springsteen and Metallica in megacities.
International income hit a new record of 35.2 million euros ($38 million), marking a 15.4% year increase compared to 2023.
The European market accounted for the largest share at €16.4 million ($17.7 million), largely from France and Italy, followed by Latin America and the Caribbean at 10 million € ($10.8 million) and North America at 8 million euros ($8.65 million).
Other notable achievements include surpassing symphonic performances at 3 million € ($3.2 million) for the first time in SGAE’s history, and an increase in income from physical formats by 11.8% year, reaching 3.8 million euros ($4.1 million), largely attributed to the resurgence of vinyl sales.
SGAE provides its members with authors’ rights quarterly, monthly, and for digital platforms, art, and major concerts.
In the latest distribution of SGAE in 2024, a total of 75,019 members, including foreign societies, received income from their creative works.
