GEMA Reports Record Results, Revenue Up 8.4% ...Middle East

GEMA’s revenue rose 8.4% in 2023, to €1.28 billion ($1.4 billion), the German collective management society (CMO) announced April 8, and for the second year in a row it will distribute more than a billion Euros to its members – €1.08 billion ($1.17 billion) to be exact. That income was offset by an expense ratio of 15.2%, up from 14.3% last year at a time of relatively high inflation of 5.9% in Germany. “2023 will go down as the most successful financial year in GEMA’s history to date,” GEMA CEO Tobias Holzmüller said in a statement. “Despite the tense economic circumstances, we have worked to minimize costs and once

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