Minute value fluctuates 202221-01-2022
At the end of 2020, we reported a decrease in the minute value of music years 2019 and earlier.
We also imported the additional backorders of fingerprinted playlist (again relating to music years 2019 and earlier) at the end of 2021. This resulted in more music minutes being recognised. Recognising more music minutes means the available payments must be divided over more minutes, which reduces the minute value.
There is a buffer in place for any playlist adjustments. Fingerprinting allows more music minutes to be identified, and we try to take into account the increased minutes of music recognised from sound files that are due for delivery during the year. However, the buffers have not proved sufficient to cover these adjustments.
We are now responding better to the effects of later playlist deliveries by keeping our buffers higher for the years where we are still receiving collection. Unfortunately, we also had to deal with the impact of the coronavirus crisis, resulting in lower fees/income from sectors that had to close due to government measures. We regret the adverse consequences for our rightsholders.