Spanish CMO SGAE Takes in Record $422M in 2024, Up 11.7% Over the Previous Year 

SGAE, the collective management organization in Spain, took in the most money in its history in 2024, 390 million euros, or $422 million based on the average 2024 Euro-dollar conversion rate, it announced. That’s up 41 million euros ($44.4 million), or 11.7%, from 2023. The organization distributed more than 349 million euros ($377.6 million) to rightsholders, up 6%, its second-highest distribution ever. It also lowered its administration fees, resulting in an increase in distributions of 6.7 million euros ($7.3 million).  

Unsurprisingly, the fastest-growing category of revenue was digital, which came in at 60 million euros ($64.9 million), up 25% over 2023. Of that revenue, more than 55% came from streaming, while 43% came from audiovisual content.  

The biggest source of revenue was TV and radio, which reached 110 million euros ($119 million) in 2024, up 18.9% over the previous year. Some of that bump comes from private TV companies paying for previous uses of music.  

Concert collections also grew, increasing 16.2% to 64.1 million euros ($69.4 million). Much of that money came from live pop music, which brought in 48.7 million euros ($52.7 million), up 7.4%. The biggest shows were performances by Karol G, Bruce Springsteen & the E Street Band, and Metallica.  

Foreign revenue reached 35.2 million euros ($38.1 million), up 15.4%. The biggest source of that revenue was Europe, especially France and Italy, followed by Latin America, various Caribbean countries, the U.S., and Canada.

Revenue from private copying, the levies charged by collecting societies on blank memory and associated products, reached 16.2 million euros ($17.5 million). That represents a gain of 57.2% over regular collections in 2023, but a decrease of 38.1% once a special payment from 2023 is included. Mechanical rights revenue also climbed, by 11.8%, thanks to the vinyl boom, to 3.8 million euros ($4.1 million). 

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