The start of GVL payouts are expected to be made no sooner than at the end of December 2017 and are likely to extend until the second quarter 2018. The artists’ distributions (final distribution for the years 2010-2012, regular distribution for the years 2013-2015 and initial distribution 2016) are likely to extend until the second quarter 2018. Furthermore, the additional payouts for international remuneration we have received from abroad for private copying levies 2008/2009 (ZPÜ monies) are already paid up to an amount of 80% from total.