GVL 2020 income above expectations
Colletions in the public performance sector have, as projected, collapsed due to the COVID-19 induced closures of clubs, restaurants, hotels and many other places by nearly 40%. Broadcast remuneration of private radio and TV channels also declined. The decrease could, however, be offset by a growth in income from the private copying remuneration.
Guido Evers and Dr. Tilo Gerlach, Managing Directors of GVL, explain: “We are pleased that GVL was able to stand by its rights holders in a historic year of crisis as a stable and reliable partner. Despite existing restrictions and a volatile income situation, we managed to release a maximum level of remuneration for performers and producers. At the same time, we continued to push the further development of our IT systems forward with unabated energy and made significant progress. Overall, we were successful at reliably navigating GVL through these uncertain times.”
During the exceptional COVID-19 year, the central objective of GVL was to make a maximum level of remuneration available to performers and producers: It paid out EUR 283.3m to its rights holders during the 2020 pandemic year. In addition to the eight regular distributions with 31 distribution runs, GVL also initiated advance payments and additional COVID-19 aid payments amounting to tens of millions of Euros for performers and producers.
You find the most important numbers in our press release.