Norwegian CMO TONO Passes $102 Million Revenue for 2024

Photo Credit: TONO

TONO, Norway’s collective management organization (CMO), has reached a historic milestone in 2024. The CMO has reported gross revenues exceeding NOK 1 billion ($102M) for the first time.

Based in Oslo and established in 1928, TONO operates as a non-profit entity owned and governed by composers, lyricists, and music publishers. It licenses the use of music across concerts, broadcasts, streaming services, and public performances—distributing royalties to more than 43,000 Norwegian members and millions of international rights holders.

In 2024, TONO’s gross revenues totaled NOK 1,021,279,039 ($102M) with a distributable result of NOK 848,797,071 ($85.3M) after statutory contributions and operating expenses. This matches the all-time high from 2023 and reflects robust licensing performance across multiple sectors.

CEO Karl Vestli highlighted this achievement as a testament to the enduring value of music and copyright in a rapidly evolving market, emphasizing the strength of collective licensing and the organization’s repertoire.

Growth Drivers for TONO — Concerts, International & Background Music

Significant growth was observed in several revenue streams:

Concerts and Live Events — Revenues rose by nearly NOK 20 million year-on-year, reaching NOK 131.4 million ($13.08M).

International Sources — Income from foreign sister societies increased to NOK 98.1 million ($9.7M).

Background Music — Continued its upward trajectory, totaling NOK 95.6 million ($9.54M).

While online revenues dipped slightly from the exceptional 2023 figure—previously boosted by historical settlements—the digital sector’s underlying growth remains strong. The internet continues to be the largest single income source, closely followed by TV and radio.

Strategic Investments in Technology

2024 saw TONO make substantial investments in digital infrastructure, data analytics, and reporting tools. These advancements aim to enhance accuracy, transparency, and efficiency for members, licensees, and partner societies worldwide. Vestli underscored the importance of future-proofing rights management systems to meet evolving industry needs.

Revenue Breakdown & International Distribution

Key licensing areas and their 2024 revenues include:

Online (Spotify, YouTube, Netflix, etc.) — NOK 286.9 million ($28.56M)

Broadcasting (TV & Radio) — NOK 259.5 million ($25.84M)

Concerts — NOK 131.4 million ($13.08M)

International — NOK 98.1 million ($9.76M)

TONO’s distributions reached major international societies including Sweden (STIM), the USA (Amra, ASCAP, BMI, SESAC), the UK (PRS, MCPS), Denmark (KODA), and Germay (GEMA) being the top five recipients. Notably, these figures reflect both direct and secondary uses licensed through Norwaco.

Younger members under 30 experienced the fastest growth in payouts, with a 10% increase over 2023. Recruitment remains strong, as evidenced by 42,000 new works registered and over 2,000 new members joining in 2024. High-earning members included Alan Walker, Rolf Løvland, Gaute Storaas, and Peder B. Helland, whose works span pop, film scores, and ambient music.

View the full article