There was depressing news about next year, too: Directly addressing songwriters, GEMA’s CEO Harald Heker said, “From a financial perspective, 2021 will be even more difficult for many of you. Our revenues will be lower than in 2020, and we will therefore pay out less to you.”that “the pandemic will have a material and negative impact financially on almost every category of licensing.” Williams confirmed that ASCAP was preparing for both its revenues and member payouts to decline in 2020.
“There are [publishing] companies out there with business models that I can see hitting the rocks before too long, particularly with the effects of Covid. There is going to be an impact on live performance that will take a year to wash through the system.” — Guy Moot, CEO of Warner Chappell What might make it worse when the damage does “wash through” next year for music publishers is how differently situated their record-industry friends will be.
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