Teosto, the Finnish copyright organization, has today, December 14, 2023, disbursed royalties totaling €14.7 million to composers, lyricists, arrangers, and publishers. This distribution includes, for the first time, royalties from music used in audiobooks and on the social media platform TikTok.
Teosto typically distributes copyright royalties on a quarterly basis.
Teosto, which collects royalties for composers, lyricists, arrangers and music publishers, achieved a record result in 2022. This information is included in Teosto’s annual report and financial statements, which were approved by Teosto’s General Meeting on 17 May 2023.
In 2022, the total royalties for the use of music collected by Teosto reached a record high of EUR 80.7 million (2021: EUR 70.1 million).