SUISA can look back on a successful financial year 2016. Thanks to the positive year-end result, we are able to pay out more than CHF 128m to those who are entitled to receive a payment. That is more than ever before in the successful history of the Cooperative Society SUISA, spanning more than 90 years.
We are also doing well in terms of our costs. An average cost coverage deduction of 12.37% shows that we have the costs under control. If you take the reoccurring supplementary distribution of 7% into consideration as a contribution to the costs, the actual percentage amounts to 6.75% of the pay-outs to those entitled to receive a payment.
SUISA improves its competitiveness in the online market
Members will have the opportunity during the General Assembly to co-determine the destiny of their cooperative society. Apart from the positive annual accounts, we are also going to present the newly founded project for the improvement of SUISA’s international competitiveness in the online music market.
Together with the US authors’ society SESAC, we have founded Mint Digital Services as a Joint Venture back in February 2017. The JV enterprise offers services in relation to the administration and processing of online music licences. With this JV, we emphasise our strategic direction, i.e. to offer rightsholders an efficient and cost-effective administration.
Wanted: Active participation of our cooperative members
There will also be news on the legal framework conditions. AGUR12 II has passed a compromise for the attention of the Head of the Ministry in the EJPD (Federal Department of Justice and Police, FDJP); we are now waiting for it to be substantiated in a legislative draft.
Please do take part in our General Assembly. Only your active participation ensures that SUISA will be there for its members as a Cooperative Society in future.
See you on 23 June 2017 in the Kaufleuten Zurich.