GEMA Predicts 6% Income Fall June 25, 2009
- Global
| Publishing
By Wolfgang Spahr, Berlin
GEMA expects income for 2009 to be down 6% compared to last year.
GEMA's CEO Dr. Harald Heker made the projection at the collection society's annual assembly in Munich. GEMA had total income of €823 million ($1.1 billion) in 2008, down 3.1% on the previous year.
Heker projects a further slump in mechanical revenue from CD sales, with the financial and economic problems also affecting broadcasting and synchronization revenue.
GEMA represent the rights of more than 60,000 members (composers, authors and music publishers) and over one million rights owners worldwide.
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