transparency report 2019 - siae.it...1 transparency report 2019 directive 2014/26/ue, article 22...

1

TRANSPARENCY REPORT 2019

Directive 2014/26/UE, Article 22

Legislative Decree No. 35/2017, Article 28

SIAE - Società Italiana degli Autori ed Editori Viale della Letteratura, 30 — 00144 Roma, Italia www.siae.it

http://www.siae.it/


3

TABLE OF CONTENTS

SIAE’S CORPORATE BODIES, OFFICES AND AGENCIES 4

INTRODUCTION 6

1) Information provided according to the Annex referred to in art. 28, subparagraph 2 of the Legislative Decree no.35 of March 15, 2017

6

a) Budget documents: Balance Sheet, Income Statement and Cash Flow Statement 6

b) Description of the activities performed throughout the accounting period 24

c) Details regarding the refusal to confer a license in accordance with art. 22, subparagraph 2 25

d) SIAE Legal and governance structure 25

e) Entities directly or indirectly owned or controlled by SIAE 28

f ) Remunerations paid to the Supervisory Board and to the Management Board 29

g) Financial information referred to in point 2 30

h) Special Relation regarding the utilization of the amounts deducted for social, cultural and educational purposes

30

2) Financial information referred to in point 1, letter g 33

a) Financial information regarding the rights incomes – Premise 33

b) Financial information on the cost of rights management and other services provided by the Company to the right-holders

37

c) Financial information regarding the amounts due to the right-holders 44

- MUSIC REPERTORY 57

- CINEMA REPERTORY 63

- DOR-LYRIC REPERTORY (Theatre, Opera and Ballet and Radio and Television works) 69

- OLAF REPERTORY (works of Visual Arts and Literature) 75

ANNEX 1: Relations with other Collective Management Organizations 83

Indipendent Auditors’ Report 107

Report of the Board of Auditors 113


4

SIAE’S CORPORATE BODIES, OFFICES AND AGENCIES

As at the approval date of 2019 Management Report

PRESIDENT Rapetti Mogol Giulio

MANAGEMENT BOARD

Dubini Paola Buia Claudio Purgatori Andrea Razzini Roberto

SUPERVISORY BOARD

Lavezzi Bruno Mario (President) Franchini Paolo (Vice President) Amore Francesco Angrisano Alessandro Barbagallo Angelo Bernarda Dino Biocca Antonio Carmine Borgatti Gianfranco Buticchi Andrea Caccamo Giovanni Cantini Fabio Massimo Carboni Claudio Costa Vittorio De Martino Giuseppe Di Bari Romano Distefano Riccardo Flora Giovanna Gramitto Ricci Alfredo Leonardi Piero Federico

Levi Matteo Levi Riccardo Franco Lopez Luigi Minellono Cristiano Montanari Piero Romano Perilli Paola Pirazzoli Giuseppe Pischiutta Roberto Giacomo Ranieri Martinotti Francesco Rinaldi Giuseppe Rizzi Antonella Solbiati Alessandro Sorci Roberto Sugar Filippo Nicola Trainini Maria Romana Verona Tonino Villevieille Bideri Silvia


5

ADVISORY COMMITTEES

MUSIC SECTION CINEMA SECTION

Angrisano Alessandro Benini Massimo Bernarda Dino Chiaravalle Valeriano Costa Vittorio De Martino Giuseppe Galletti Anna Lopez Luigi Minellono Cristiano Zukar Paola

Barbagallo Angelo Barbanente Mariangela Clemente Agostino Conforti Michele D’Aversa Marina Mazzotta Carlo Occhipinti Alessandro

DOR SECTION OPERA SECTION

Amurri Valentina Cavosi Roberto Distefano Riccardo Flora Giovanna Longoni Gianmario Meazza Alessandro Perilli Paola Sarcinelli Stefano

Battistelli Giorgio Cannito Luciano Mattia Corrado Pasquale Moro Laura Giovanna Ostali Piero Savasta Alessandro

OLAF SECTION

Casonato Laura Castagnone Prati Mariagiulia Foschini Cristina Hoepli Giovanni Ulrico Carlo Mazzoni Eleonora Vigevani Marco Enea

BOARD OF AUDITORS INTERNAL AUDIT Belmonte Laura (President) Fiori Giovanni Nova Massimiliano Supplenti: De Buglio Massimo Romani Barbara

Antonio Urrata

MANAGING DIRECTOR Blandini Gaetano


6

INTRODUCTION On 27 March 2017, Legislative Decree No. 35, of March 15, 2017, containing the "Implementation of Directive 2014/26/EU on the collective management of copyright and related rights and on the granting of multi-territorial licenses for rights on musical works for online use in the internal market", was published in the Official Gazette of the Italian Republic (No. 72).

The decree, in particular, transposes the Community rules by establishing the requirements to ensure the proper functioning of the management of copyrights and related rights and for the granting of multi-territorial licenses by Collective Management Organizations for the online use of musical works in the internal market.

Art. 28 of the decree introduced the Annual Transparency Report as a mandatory document, including the Special Report on the use of the amounts deducted for the provision of social, cultural and educational services. The Annual Transparency Report must contain at least the information required by a specific Annex to the decree.

In addition to the Transparency Report, SIAE draws up and transmits to Parliament and the Supervisory Bodies an annual report on the results of the activity carried out, relating to the profiles of transparency and efficiency.

***

1) Information provided pursuant to Annex referred to in Art. 28, subparagraph 2 of Legislative Decree No. 35 of March 15, 2017

a) Balance Sheet documents: Statement of Assets and Liabilities, Profit and Loss Account and Cash Flow Statement SIAE draws up its own Annual Management Report pursuant to Book V, Title V, Chapter V, Section IX, of the Italian Civil Code (Legislative Decree No. 35/2017, Article 8, paragraph 1 letter d) point 3), as amended by Legislative Decree No. 139/2015, and the accounting standards issued by the Italian Accounting Standards Setter (OIC), updated in 2016.

Moreover, starting from January 1, 2005, SIAE had already voluntarily submitted to the accounting control in accordance with the provisions of Art. 2409-ter of the Italian Civil Code (now article 37 of Legislative Decree No. 39 of January 27, 2010).

The following documents were produced in the Management Report closed at 31 December 2019:

- Statement of Assets and Liabilities, Profit and Loss Account and Explanatory Note;

- Management Report:

- Cash Flow Statement;

- Separate reports relating to the “Copyright Authentication” (Ge.Vi), “Solidarity Fund” and “PER CHI CREA” (“For those who create”) Project (COPI) managements.


7

As already mentioned, SIAE draws up the management report in accordance with current legislation. SIAE’s report is therefore structured according to a scalar form which highlights the operating result as the difference between the value and production costs (so-called A-B) and shows the result of financial management separately. However, this method of representation does not allow to highlight the real SIAE’s production cycle which differs from that of normal industrial companies. SIAE, as mentioned, is characterized by an inverted cycle that sees the revenue preceding the expenditure, making the economic parameter A-B (difference between value and production costs) of little significance. The peculiarity of generating liquidity physiologically involves the production of financial income (similarly to what happens in all international Collecting Societies). The presence of sums awaiting processing and allocation to the rights-holders, is found in the financial statements:

• in the statement of assets and liabilities: among cash and cash equivalents, current assets and financial fixed assets, and on the liability side (debts) as sums intended for the distribution at the outcome of the processes for identifying the rights-holders according to the repertoire used;

• in the profit and loss account: among income from financial management. The sums awaiting distribution (classified in the accounts as debts) are present in all Collecting Societies; for SIAE they represent 65% of the liabilities.

Needless to say, due to the specificities of the Collecting Societies mentioned above, the financial component deriving from the use of the sums to be distributed represents a typical element of the core business (namely from ordinary operations) and the parameter "Difference between value and production costs” (so-called “operating margin”) is not significant. The Barnier Directive itself acknowledges the peculiarity of Collecting Societies to generate financial income deriving from the use of the sums pending distribution, leaving to the Associate Members the decision to distribute them or use them in deduction of management costs (as SIAE and the main foreign sister companies have always been operating). The Assembly, which met on 18 July 2019, decided to allocate the financial proceeds to cover management costs. It should also be worth thinking about the fact that SIAE is a non-profit company and, therefore, its "mission" is not to generate profits to be distributed to shareholders. It follows that revenues and income of any kind are destined for the remuneration of production factors. When operational management generates positive margins, actions are planned to benefit the membership base in terms of:

- decrease in commissions (the average commission from 2009 to 2016 decreased by 1.5 percentage points)

- investments to improve business efficiency (IT, reorganization, etc.) - the improvement of services provided to members and users with a view to digitalisation - simplification of processes - support to social, charity and cultural promotion initiatives.


8

In fact, in the absence of such actions, the financial statements would record even substantial surpluses that are inconsistent with the corporate mission. Any operating surpluses go to fuel, in line with the provisions of the Articles of Association, the Reserves which constitute, in the absence of a share capital, the only Guarantee Fund for the business continuity. The economic means for achieving SIAE's goals are drawn from the results that the Company achieves in carrying out its business. SIAE does not rely - either directly or indirectly – on any bank transfer, grant, financing or advantage from the state budget or from other public bodies or authorities. The results of the economic and financial management of SIAE, therefore, do not contribute to either the needs or the indebtedness of public administrations. Consequently, SIAE is uninvolved in the public finance sector. The economic result at 31/12/2019, equal to € 1.3 million after taxes, reflects the strategic actions undertaken over the last few years.

The value of production, equal to € 185 million, shows an increase of approximately € 2.1 million compared to 2018 (+ 1.1%) to be attributed to revenues generated by management.

Income Statement 2019 2018 Change % Change

Copyright management 116.845.150 114.772.847 2.072.303 2%Private Copy 5.310.014 3.914.761 1.395.253 36%Services 31.544.263 31.696.087 (151.824) (0%)Other Revenues 8.278.251 9.890.247 (1.611.996) (16%)Total operating revenues 161.977.678 160.273.942 1.703.736 1%Separate accounts 16.879.190 17.036.767 (157.577) (1%)Sectional accounts 6.145.158 5.598.684 546.474 10%

23.024.348 22.635.451 388.897 2%TOTAL PRODUCTION VALUE (A) 185.002.026 182.909.393 2.092.632 1%

Staff 72.067.861 72.536.759 (468.898) (1%)Agents 41.648.332 41.046.518 601.814 1%Management e funcional services 36.112.331 37.250.544 (1.138.213) (3%)Amortizations and provision 14.493.256 12.226.973 2.266.283 19%Different management charges 4.023.071 2.862.446 1.160.625 41%Total operating costs 168.344.851 165.923.240 2.421.611 1%Separate accounts 17.662.598 16.760.350 902.248 5%Sectional accounts 5.862.158 4.189.149 1.673.009 40%

23.524.756 20.949.499 2.575.256 12%TOTAL PRODUCTION COSTS (B) 191.869.607 186.872.739 4.996.868 3%DIFFERENCE (A-B) (6.867.581) (3.963.346) (2.904.235)Financial management 8.198.296 5.221.198 2.977.098 57%Income Taxes (123.707) 123.707 (100%)Result 1.330.715 1.381.559 (50.844) (3,7%)

Operating revenues

Operating costs


9

Production Costs of € 191.9 million increased by approximately € 5 million, of which € 2.4 million detectable in operating costs. As already illustrated in the first paragraph, the Difference between Value and Production Costs (A-B) is not a particularly indicative factor for evaluating the efficiency of management, however it should be noted that for the third consecutive year it exhibits values around - € 3 and - € 7 million, proving that the contribution, in any case physiological, of financial management is not essential as in the past in order to obtain a positive operating result. Financial management produced a positive balance of € 8.2 million. The Pentagramma Fund has almost entirely recovered from the decline recorded last 2018 and released a 0.58% return. Taxes amount to "zero" due to the presence of tax losses that cancel the taxable income.


10

Balance sheet 2019 2018AssetB) FIXED ASSETSI) Intangible fixed assets

3) Industrial patents and use of intellectual property rights 3.879.899 3.754.9566) Fixed assets under construction and advances 2.175.758 810.8087) Other intangible fixed assets 2.475.242 3.008.125

Total intangible fixed assets (I) 8.530.899 7.573.889

II) Tangible fixed assets1) Land and buildings 31.072.901 32.302.347

-Land and buildings amortization fund (10.496.435) (10.413.307)20.576.466 21.889.040

2) Installations and machines 1.950.483 1.883.797- Installations and machines amortization fund (1.091.131) (849.275)

859.352 1.034.522

3) Industrial and commercial equipment 5.366.767 5.070.135- Industrial and commercial equipment fund (4.801.264) (4.295.054)

565.503 775.081

5) Fixed assets under construction and advances 0 50.000Total tangible fixed assets (II) 22.001.321 23.748.643

III) Financial fixed assets1) Holdings in:

d) Other companies 3.657 3.6573.657 3.657

2) Receivables: d) From others

- Installments due in the following accounting period 111.679 89.928- Installments due after the following accounting period 75.962.297 84.455.811

76.073.976 84.545.7393) Other securities:

a) S.I.A.E. securities 58.695.617 67.985.612b) SF securities 0 0c) "Real Estate Fund" securities 164.609.996 164.609.996d) SF " Real Estate Fund" securities 31.200.000 31.200.000e) "Financial Fund" securities 627.157.218 628.157.218

881.662.831 891.952.826Total financial fixed assets (III) 957.740.464 976.502.222TOTAL FIXED ASSETS (B) 988.272.684 1.007.824.754


11

C) CURRENT ASSETSII) Receivables1) From customers

a)From Associate and Mandate Members1) From Associates and Mandate Members for shares and annual contributions 861.597 930.583

- Devaluation fund receivables for shares (356.864) (350.000)504.733 580.583

2) From Associate ad Mandate Members for advances 76.572.298 80.348.907- Other receivables from associates and principals 29.783 29.872

- Devaluation fund receivables for advances (238.520) (249.061)76.363.561 80.129.718

3) From Sister Societies and Foreign Entities for WT 2.717.887 079.586.181 80.710.301

b) For Private Copy compensations 332.778 798.203c) From other mandate members 528.972 1.439.862d) From users 67.625.656 88.178.036e) From others 62.214 194.741

Total receivables from customers 148.135.801 171.321.143

4-bis) Tax receivables 10.627.430 9.736.206Total tax receivables 10.627.430 9.736.2064-ter) Advanced taxes 10.412.779 10.428.565

5) From othersa) From employees 180.451 209.394b) From banks 2.108 2.108c) Other credits 60.616.183 8.492.794

- Other receivables devaluation fund (138.294) (157.680)60.477.889 8.335.114

Total receivables from others 60.660.448 8.546.616

Total receivables (II) 229.836.458 200.032.530

III) Financial activities that do not constitute fixed assets6) Other securities 0 49.610.800

Total financial activities that do not constitute fixed assets (III) 0 49.610.800

IV) Cash1) Bank and postal deposits 254.348.514 155.448.4993) Money and cash on hand 23.859 23.544

Total cash (IV) 254.372.373 155.472.043TOTAL CURRENT ASSET (C) 484.208.831 405.115.373

D) ACCRUALS AND PREPAID EXPENSESa) Accruals and prepaid expenses 6.565.029 7.984.634 TOTAL ACCRUALS AND PREPAID EXPENSES (D) 6.565.029 7.984.634

TOTAL ASSET 1.479.046.544 1.420.924.761


12

Liabilities 2019 2018A) NET WORTHIII) Revaluation reserves

1) Revaluation pursuant to Law 21/11/00 No. 342 39.150.070 39.150.0702) Revaluation pursuant to Law 24/12/03 No. 350 41.007.241 41.007.2413) Revaluation pursuant to Law 28/01/2009 No. 2 11.564.615 11.564.615

Total revaluation reserves (III) 91.721.926 91.721.926

V) Statutory reserves1) Permanent Reserve 18.863.987 18.173.2072) Extraordinary Reserve 14.340.111 13.718.409

Total statutory reserves (V) 33.204.098 31.891.616

VII) OTHER RESERVES1) Lira/Euro Conversion Reserve 237 237

Total other reserves (VII) 237 237

VIII) RETAINED EARNINGS/ ACCUMULATED LOSSES

IX) Result of the accounting period 1.330.715 1.381.559TOTAL NET WORTH (A) 126.256.976 124.995.338

B) FUNDS FOR RISKS AND CHARGES1) For retirement pensions and similar obligations

a) Agents retirement indemnity 28.615.389 28.963.920b) Additional fees for the end of the verification activity of the employees 18.475 18.475

Total retirement pensions and similar obligations 28.633.864 28.982.395

2) For taxes, including deferred ones 0 0

3) Othersa) Solidarity Fund

1) Performances payment fund 3.202.241 3.202.2412) Capital provisions 6.108.180 6.108.1803) Restricted fund for future solidarity performances 31.168.479 80.841.6404) Permanent reserve 2.866.024 2.866.024

43.344.924 93.018.085

b) for risks connected to the management activity 7.431.461 4.468.330c) for Pensions Fund management risks 4.673.496 4.933.636d) for corporate reorganization risks 6.500.000 6.500.000e) for Private Copy refunds corrections 0 0f) for employees incentive 3.191.000 3.191.000g) charges for security contributions 105.000 0h) manage calls for tenders private copy 37.598 37.598

Total Others 65.283.479 112.148.649TOTAL FUNDS FOR RISKS AND CHARGES (B) 93.917.343 141.131.044

C) EMPLOYEES SEVERANCE INDEMNITYTOTAL EMPLOYEES SEVERANCE INDEMNITY (C) 15.096.591 16.189.020


13

D) PAYABLES4) Payables to banksa) Withholding taxes to deduct 0 22.070b) Other payables 30.028 33.976Total payables to banks 30.028 56.046

7) Payables to suppliers 15.300.405 10.670.927

12) Tax payables 370.503 3.780.299

13) Payables to security and social institutes 8.360.362 7.817.333

14) Other payablesa) to Associate, Mandate Memebers and other rightful owners 839.477.145 793.353.776b) to others for "Private Copy compensations" 203.521.450 178.556.529c) to other Mandate Members (various entities) 1.405.510 1.326.249d) to operators and others for provisional and cautionary deposits 18.518.294 19.849.172e) to different corporate bodies and organisms 203.402 258.734f) to employees 6.204.438 7.403.731g) different payables

1) different payables 68.855.576 32.581.0452) copyrights awaiting for collection 58.455.045 61.743.337

127.310.621 94.324.382

h) cultural activities funded from private copy 22.310.921 20.235.718Total other payables 1.218.951.781 1.115.308.291TOTAL PAYABLES (D) 1.243.013.079 1.137.632.896

E) ACCRUALS AND DEFERRED INCOMESa) Accruals and deferred incomes 762.555 976.463TOTAL ACCRUALS AND DEFERRED INCOMES (E) 762.555 976.463

TOTAL LIABILITIES 1.479.046.544 1.420.924.761


14

Income Statement 2019 2018A) PRODUCTION VALUE1) Revenues from sales and performances

a) Copyright management1) Allocated shares on copyright collections

- Music 77.943.960 74.587.492- DOR-LIRICA (Theatre, Opera and Ballet, Radio and TV) 8.995.213 9.126.905- OLAF (Visual Arts and Literature) 2.425.823 2.466.323- Cinema 5.396.052 5.791.311

94.761.048 91.972.0312) Institutional services 1.272.606 1.365.6923) Shares 7.728.222 7.812.6434) Services connected to the authorial management

- Connected rights 1.467.425 1.459.749- Administrative rights 5.341.397 5.803.741- Other authorial services 836.068 819.476

7.644.890 8.082.9665) complementary collections 5.438.384 5.539.515

Total copyright management 116.845.150 114.772.847

b) expenses reimbursement for the "Private Copy" service 5.310.014 3.914.761

c) endorsement 1.723.336 2.367.753

d) convention services- ticketing 765.996 802.183- hallmarking 41.060 42.954- Italian Revenue Agency convention 28.611.529 28.117.440- Cinematographic rental convention 871.613 877.672- Customs and Monopoly Agency convention 834.752 1.511.320- other conventions 419.313 344.518

31.544.263 31.696.087Total revenues from sales and performances (1) 155.422.763 152.751.448

5) Other revenues and incomesa) Real estate management revenues 2.648.674 2.691.388b) Solidarity Fund incomes 1.366.915 1.022.428c) Project "PER CHI CREA" 13.536.598 12.935.060d) Services provided to separate accounts 1.074.077 987.100e) Use of sectional accounts 6.145.158 5.598.685f) Other incomes 4.807.841 6.923.284

Total other revenues and incomes (5) 29.579.263 30.157.945TOTAL PRODUCTION VALUE (A) 185.002.026 182.909.393


15

B) PRODUCTION COSTS6) For purchasinga) goods for sale 656.881 583.263b) various consumer goods and materials 244.996 568.573

Total for purchasing (6) 901.877 1.151.836

7) For servicesa) business services

1) Agents- social security contributions and fees 40.146.282 39.411.070- provisions for employees severance indemnity 1.502.050 1.635.448

41.648.332 41.046.518

2) external inspectors 326.142 342.0343) third party processing 1.584.548 1.938.7444) other business services 2.914.277 3.278.054

46.473.299 46.605.350b) professional services

1) professional performances 3.952.006 3.876.0072) legal advocacy 1.255.909 1.449.4843) consultations 0 04) staff selection, education and training 248.983 211.050

5.456.898 5.536.541c) functioning services

1) operating services 7.578.762 8.747.3332) information technology services 7.222.249 7.013.4563) travel expenses and external activity 562.435 577.3204) financial services 872.544 883.7265) advertising and communication services 444.439 867.8996) provisions for charges for services funds 0 0

16.680.429 18.089.734

d) corporate bodies and different organisms 1.296.057 1.022.620Total for services (7) 69.906.683 71.254.246

8) For the use of third parties goodsa) third parties real estate 8.650.443 8.796.504b) rental and leasing of goods and various equipment 691.322 436.126

Total for the use of third parties goods (8) 9.341.765 9.232.630

9) For the staffa) fixed compensations

1) fixed compensations 48.723.075 49.224.8482) compensations for inspection activity, extraordinary works and various 2.366.891 2.495.380

51.089.966 51.720.228b) social security charges 13.191.684 13.079.066c) employees severance indemnity 3.834.784 4.065.428d) retirement pension and similar 0 0e) other costs 5.485.527 5.016.276

Total for the staff (9) 73.601.961 73.880.998


16

10) Amortizations and devaluationsa) amortizations of the intangible fixed assets 8.178.545 8.407.204b) amortizations of the tangible fixed assets 1.386.202 1.501.611c) other devaluations of the fixed assets 0 0d) devaluation of the receivables included in current asset and cash 300.003 276.084

Total amortizations and devaluations (10) 9.864.750 10.184.899

12) Provision for risks and chargesa) provisions to funds for future charges 6.803.758 2.042.074

Total provisions for risks and charges (12) 6.803.758 2.042.074

14) Different management chargesa) Solidarity Fund 667.322 793.388b) supplementary contribution pensions fund 0 0c) associates extraordinary contribution 0 0d) representation expenses 44.841 47.711e) expenses for the organization of national and international conferences 135.461 328.134f) cultural promotion 3.532.226 3.028.003g) social activities 179.526 12.694.387h) different taxes and fees 1.565.427 1.387.302i) different expenses 1.787.412 847.131l) activities in support of COVID-19 -"PERCHICREA" Project 13.536.598 0

Total different management charges (14) 21.448.813 19.126.056TOTAL PRODUCTION COSTS (B) 191.869.607 186.872.739

DIFFERENCE (A-B) (6.867.581) (3.963.346)

C) REVENUES AND FINANCIAL CHARGES16) Other financial revenuesa) from receivables stated under fixed assets 37.977 34.059b) from securities stated under fixed assets

1) dividends 3.298.420 02) interests income on securities 1.490.850 1.893.1713) various revenues on securities 12.395 12.395

4.801.665 1.905.566c) from securities stated under current assets

- interests income on securities stated under current assets 377.725 631.596- capital gains on securities stated under current assets 0 0

377.725 631.596d) revenues other than those referred above

1) interests income on postal and bank accounts 883.078 773.6442) interests on receivables from Inland Revenue 40.000 40.0003) interests and other financial revenues 2.293.643 2.370.1844) default interests and Private Copy penalties 426 43

3.217.147 3.183.871Total other financial revenues (16) 8.434.514 5.755.092


17

17) Interests and other financial chargesa) Interests and other financial charges (212.317) (360.277)

Total interests and other financial charges (212.317) (360.277)

17-bis) Profits and losses on exchanges ratea) exchange rate differences (23.901) (917)

Total profits and losses on exchanges rate (17-bis) (23.901) (917)TOTAL PROFITS AND FINANCIAL CHARGES (C) 8.198.296 5.393.898

D) ADJUSTMENTS OF FINANCIAL ACTIVITIES VALUE 18) Revaluations 0 019) Devaluations 0 (172.700)ADJUSTMENTS OF FINANCIAL ACTIVITIES VALUE (D) 0 (172.700)

RESULT BEFORE TAXATION 1.330.715 1.257.85222) INCOME TAXES

a) Current taxes- Corporation Tax 0 404.845- Regional Business Tax 0 0

0 404.845b) Taxes related to previous accounting periods

- previous accounting periods Ires 0 0- previous accounting periods Irap 0 0

0 0b) Deferred taxes

- Assets 0 (528.552)- Liabilities 0 0

0 (528.552)

TOTAL INCOME TAXES (22) 0 (123.707)

23) RESULT OF THE ACCOUNTING PERIOD 1.330.715 1.381.559


18

CASH FLOW STATEMENT 2019 2018A. Financial flows deriving from the operating Activity (indirect method)Profit (loss) of the accounting period 1.330.715 1.381.559Income taxes 0 (123.707)Interests expense / (interests income) (5.002.943) (5.508.657)(Dividends) (7.156.632) (3.500.000)(Capital gains)/ capital losses deriving from the activity disposal 94.365 92.3301. Profit (loss) of the accounting period before income taxes, interests, dividends and capital gains/losses of activity disposal (10.734.495) (7.658.475)

Adjustments for non-monetary elements which did not have compensation in the net working capitalAllocations to provisions 10.638.542 6.107.502Amortizations of the fixed assets 9.564.747 9.908.815Devaluations for sustainable value losses 0 276.084Value adjustments of financial profits and losses of derivative financial instruments that do not involve monetary movement 0 172.700Other adjustments for non-monetary elements 4.878.575 4.848.5772. Financial flow before the variations of the net working capital 25.081.864 21.313.678

Variations of the net working capitalDecrease /(increase) of the inventories 0 0Decrease/(increase) of the receivables from customers 23.739.264 162.348.888Increase /(decrease) of the payables to suppliers 4.629.478 (4.986.022)Decrease /(increase) of the accruals and prepaid expenses 5.839.362 (2.167.795)Increase /(decrease) of the accruals and deferred incomes (305.986) 369.411Other variations of the net working capital 48.263.398 (155.522.803)3. Financial flow after the variations of the net working capital 82.165.515 41.679

Other adjustments Collected interests/(paid) 3.139.774 3.797.939(Paid income taxes) 0 0Collected dividends 3.500.000 3.500.000Use of funds (63.823.247) (17.016.558)Other collections/payments (26.188) 04. Financial flow after the other adjustments (57.209.660) (9.718.619)

Financial flow of the operating Activity (A) 39.303.225 3.978.263

B. Financial flows deriving from the investment activity

Tangible fixed assets(Investments) (424.313) (726.173)Disinvestments 785.433 151.619

Intangible fixed assets(Investments) (9.135.555) (6.385.757)Disinvestments 0 0

Financial fixed assets(Investments) (31.311.598) (12.900.498)Disinvestments 50.098.357 12.778.371

Non-fixed financial assets(Investments) 0 (49.610.800)Disinvestments 49.610.800 0

Financial flow of the investment activity (B) 59.623.124 (56.693.238)


19

CASH FLOW STATEMENT 2019 2018C. Financial flows deriving from the financing activity

Third parties meansIncrease/(decrease) short terms payables to banks (26.018) 28.129Allocation of loans 0 0(Refund of loans) 0 0

Own meansPayment capital increase 0 0(Refund of capital) 0 0Disposal/(purchase) of own shares 0 0Dividends (and advances on dividends) paid 0 0Financial flow of the financing activity (C) (26.018) 28.129

Increase (decrease) of cash (a ± b ± c) 98.900.330 (52.686.846)

Exchange rate effect on cash 0 0

Cash at January 1 155.472.043 208.158.886

Cash at December 31 254.372.373 155.472.043


20

Separate accounts

Solidarity Fund

Balance sheet 2019 2018AssetB) FIXED ASSETSIII) Financial fixed assets

2) Receivables:d) from others 0 0

3) Other securities:b) securities SF 0 0d) securities "Real Estate" SF 31.200.000 31.200.000e) securities "Financial Fund" 61.190.949 61.190.949

Total Financial fixed assets (III) 92.390.949 92.390.949TOTAL FIXED ASSETS (B) 92.390.949 92.390.949

C) CURRENT ASSET

II) Receivables- receivables from others 2.313 3.000.000

Total receivables (II) 2.313 3.000.000

IV) Cash1) Bank and postal deposits 6.073.257 669.118

Total Cash (IV) 6.073.257 669.118TOTAL CURRENT ASSET (C) 6.075.570 3.669.118

D) ACCRUALS AND PREPAID EXPENSESa) Accruals and prepaid expenses 362.277 4.993TOTAL ACCRUALS AND PREPAID EXPENSES (D) 362.277 4.993

TOTAL ASSET 98.828.796 96.065.060

Liabilities B) FUNDS FOR RISKS AND CHARGES3) Others

a) Solidarity Fund1) benefits payment fund 3.202.241 3.202.2412) capital provisions 6.108.180 6.108.1803) restricted fund future solidarity performances 31.168.479 80.841.6404) permanent reserve 2.866.024 2.866.024

Total funds for risks and charges 43.344.924 93.018.085TOTAL FUNDS FOR RISKS AND CHARGES (B) 43.344.924 93.018.085

D) PAYABLES13) Payables to security and social institutes 636.165 0

g) different payables1) different payables 41424 1299

2) payables due to SIAE 54.806.283 3.045.651TOTAL PAYABLES (D) 55.483.872 3.046.950

E) ACCRUALS AND DEFERRED INCOMESa) Accruals and deferred incomes 0 25TOTAL ACCRUALS AND DEFERRED INCOMES (E) 0 25

TOTAL LIABILITIES 98.828.796 96.065.060


21

Revenues and expenditures 2019 2018A) PRODUCTION VALUETOTAL PRODUCTION VALUE (A) 1.613.562 1.433.954

B) PRODUCTION COSTSManagement and functioning costs 354.849 305.732Staff 387.311 213.842Other management charges

- associates ordinary contributions 667.323 793.389- provision for the solidarity performances restricted fund 0 0- various charges 76.929 277

Total other management charges 744.252 793.666TOTAL PRODUCTION COSTS (B) 1.486.412 1.313.240

DIFFERENCE (A-B) 127.150 120.714INCOMES AND FINANCIAL CHARGESOther financial revenues

- Interests income on securities 0 0- Interests income on bank deposits 5.694 0

Total other financial revenues 5.694 0Interests and other financial charges

- interests and other financial charges 0 0Total interests and other financial charges 0 0

TOTAL REVENUES AND FINANCIAL CHARGES (C) 5.694 0

RESULT BEFORE TAXATION 132.844 120.714Current taxes

- Corporation Tax 132.844 120.714- Regional Business Tax 0 0

Total income taxes 132.844 120.714RESULT OF THE ACCOUNTING PERIOD 0 (0)


22

Copyright Authentication Management (Ge.Vi)

2019 2018- Receivables/(payables) of SIAE 57.267 973.519

Revenues and expenditures 2019 2018PRODUCTION VALUERevenues from sales and performances

- Copyright Authentication Rights 1.723.336 2.367.753- Other Revenues 0 300.000- Administrative Rights 0 0

TOTAL PRODUCTION VALUE (A) 1.723.336 2.667.753

PRODUCTION COSTSManagement and functioning costs 1.440.900 1.308.301Staff 1.146.790 1.130.397Different management charges

- risks and charges provision 0 0- other management charges 51.898 73.352

Total different management charges 51.898 73.352

TOTAL PRODUCTION COSTS (B) 2.639.588 2.512.050

DIFFERENCE (A-B) (916.252) 155.703

REVENUES AND FINANCIAL CHARGES 0 0

RESULT BEFORE TAXATION (916.252) 155.703Current taxes

- Corporation Tax 0 0- Regional Business Tax 0 0

Total income taxes 0 0RESULT OF THE ACCOUNTING PERIOD (916.252) 155.703


23

“PER CHI CREA (FOR THOSE WHO CREATE) Project” (COPI)

2019 2018- Receivables/(payables) of SIAE 22.396.138 20.355.526

Income Statement 2019 2018A) PRODUCTION VALUE5) Other incomes and revenuesc) Other Revenues- Expenses reimbursement Ban 1- Urban peripheries 0 2.488.000- Expenses reimbursement Ban 2- New works 0 1.866.000- Expenses reimbursement Ban 3- Artistic residencies and training 0 6.220.000- Expenses reimbursement Ban 4- National and international live 0 1.866.000- Expenses reimbursement Ban 5- Translation and distribution abroad 0 0- Expenses reimbursement cultural Activity management costs 0 495.060- Expenses reimbursement Activity to support Covid 19 13.536.598 0

Total other incomes and revenues (5) 13.536.598 12.935.060TOTAL PRODUCTION VALUE (A) 13.536.598 12.935.060

B) PRODUCTION COSTS7) For servicesd) professional and technical services1) administrative, technical and legal services- Cultural Activity commission fees 0 205.000- Cultural Activity social security contributions 0 0- Cultural Activity expenses reimbursements 0 0- Professional services 0 0- Accountant certification 0 55.000

0 260.000e) different services- Advertising and sponsorships 0 235.060

0 235.060Total for services (7) 0 495.060

14) Different management charges

d)SIAE's activity in international field, copyright promotion, studies and initiatives related to promotion, development and diffusion of the artistic and literary italian heritage- Contribution cultural Activity Ban 1 - Urban peripheries 0 2.488.000- Contribution cultural Activity Ban 2- New works 0 1.866.000- Contribution cultural Activity Ban 3- Artistic residencies and training 0 6.220.000- Contribution cultural Activity Ban 4- National and international live 0 1.866.000- Contribution cultural Activity Ban 5- Translation and distribution abroad 0 0 - Different management charges activity to support Covid 19 13.536.598 0

13.536.598 12.440.000

Total different management charges (14) 13.536.598 12.440.000TOTAL PRODUCTION COSTS (B) 13.536.598 12.935.060

RESULT OF THE ACCOUNTING PERIOD 0 0


24

b) Description of the activities carried out in the financial year The events that distinguished the year are commented on in the Report on Operations shown in in the Management Report (published on the website www.siae.it) to which reference is made.

However, it is considered useful to highlight the most significant company data.

Structure:

- 1129 employees (1134 in 2018): 1119 permanently employed and 10 on temporary contracts. - 1 Head office in Rome - 435 Agencies - 10 Regional/Interregional Offices - 28 Local Branches

Economic data:

- Turnover of € 797 million - € 744 million for Copyright and other brokerage services - € 606 million for the rights distributed/paid to the rights-holders (including Private Copying) - 14.9% the average "commission" on collections - € 174 million in taxes paid to the Tax Authorities (VAT, Personal Income Tax, etc.) - € 0.6 million of solidarity contributions granted - € 13.5 million in disbursements to support the epidemiological emergency from COVID-19 under the

"PER CHI CREA” (FOR THOSE WHO CREATE) project - € 3.1 million in cultural donations from the special sectional accounts - € 0.6 million in cultural and social donations

The management of copyright:

- 96,952 Authors and Publishers members to SIAE with 13,376 applications for registration in 2019 - 17.3 million works managed directly - 60 million works managed through mutual representation contracts - 273 agreements with foreign companies for the management of SIAE’s repertoire in the world and of

the foreign repertoire in Italy - about 1.2 million license agreements (public performance and representation, background music, TV,

radio, online, CD/DVD, etc) - 553,000 users of SIAE’s repertoire nationwide - 502,000 venues nationwide - 1,636,000 events per year - over 25,000 digital reports managed in 2019 for online use in Italy and Europe.

http://www.siae.it/


25

c) Information on the refusal to grant a license pursuant to Art. 22, subparagraph 2 During 2019 in SIAE there were 5 cases of refusal to grant licenses for reasons related to the failure to provide the guarantee provided for by Art. 3 of the permit for shows and entertainments by organizers already in default towards SIAE.

With the exception of the cases reported, SIAE has regularly issued licenses, except in cases of revocation or failure to issue as a result of users' failure to comply with the conditions established in the licenses themselves, or denial by members who have reserved this right in relation to the nature of the law.

In this regard, it should be noted that the reference conditions under which the licenses are granted are published on the institutional website www.siae.it.

d) SIAE’s legal and governance structure SIAE is an association-based public economic body, regulated by Law No. 2 of January 9, 2008.

In particular, Art. 1, paragraph 2, establishes that "SIAE's activity is governed by the rules of private law".

2017 - at the end of a process started in 2016 on the basis of Art. 20 of Law No. 170, of August 12, 2016, containing the criteria for the incorporation of Directive 2014/26/EU - saw the approval of Legislative Decree No. 35 of March 15, 2017, published in the Italian Official Gazette No. 72, of transposition into national law of the above “Directive on the collective management of copyright and related rights and on the granting of multi-territorial licenses for rights on musical works for online use in the internal market” (entered into force on April 11, 2017), a particularly significant provision for the organizational, regulatory and operational structure of the Company.

Closely related (also because it partly contains amendments to the aforementioned Legislative Decree No. 35/2017) is Art. 19 "Liberalization of Copyright Collecting Societies" of the Decree-Law No. 148 of October 16, 2017, "Urgent provisions on financial matters and for undeferrable needs" (published in the Official Gazette No. 242 of October 16, 2017) converted by Law No. 172 of December 4, 2017 (published in the Official Gazette General Series No. 284 of December 5, 2017), with which - essentially through an amendment to Article 180 of the Italian Copyright Law - SIAE is supported, in the exercise of copyright intermediation, by "the other Collective Management Organizations referred to in Legislative Decree No. 35 of March 15, 2017".

Tax Decree 2018 (Decree-Law No. 148 of October 16, 2017) linked to Budget Law 2018 (Law No. 205 of December 27, 2017) set out the organization of the market that allowed (in addition to SIAE) other non-profit entities to collect copyright in Italy.

The Company therefore updated the Articles of Association (approved with Prime Ministerial Decree on 16 March 2018) and the General Rules.

Finally, SIAE is a “generalist” management body whose copyright intermediation activity is aimed at all artistic sectors, currently divided into five specific repertoires: Music, DOR (Theatre and Radio and Television works), OLAF (Visual Arts and Literature), Opera and Ballet and Cinema.

http://www.siae.it/


26

The economic means for achieving the objectives planned by SIAE are drawn solely from the activity carried out.

Therefore, SIAE does not rely - either directly or indirectly – on any bank transfer, grant, financing, or advantage from the state budget or from other public bodies or authorities. The results of the economic and financial management of SIAE, therefore, do not contribute to either the needs or the indebtedness of public administrations. Consequently, SIAE is uninvolved in the public finance sector.

SIAE’s Articles of Association are published on the institutional website www.siae.it.

The Articles of Association outline the Membership organization and the Governance of the Company.

SIAE’s Governance is completely entrusted to Bodies elected by its Members (Assembly, Supervisory Board, Management Board and Advisory Committees). All choices in the strategic and administrative sectors of the Company are therefore made by its membership base.

The bodies of the Company are: the Assembly (Articles from 12 to 14 of the Articles of Association), the Supervisory Board (Articles from 15 to 17), the Management Board (Articles from 19 to 23) and the Board of Auditors (art. 24).

Art. 18 of the Articles of Association regulates the five Advisory Commissions, one for each of the Sections into which the Company is organized.

The statutory auditing is also envisaged (Article 25) and the adoption of an organization and management model suitable for preventing offenses, pursuant to Legislative Decree No. 231/2001, with the establishment of a Supervisory Body with independent powers of initiative and control (Article 27).

Although SIAE is uninvolved in the public finance sector, the President of the Supervisory Body is a Judge from the Italian Court of Auditors. The Ministry for Cultural Heritage and Activities, jointly with the Prime Minister’s Office, supervises SIAE. The supervisory activity also involves the Ministry of Economy and Finance, for the matters under its specific responsibility.

http://www.siae.it/


27

Supervisory Bodies

The internal regulations concerning the Company are available on SIAE’s website. The following are particularly noteworthy:

- the General Rules of the Company (Article 38 of the Articles of Association), containing, among other things, the regulation of the Sections into which SIAE is articulated, as well as the conciliation and arbitration procedures;

- the Code of Ethics or Code of Conduct (Article 38 of the Articles of Association), which regulates the rules of conduct of all personnel who work in various capacities for the Company, as well as that of Associate and Mandate Members;

- Organisational, Management and Control Model pursuant to Legislative Decree No. 231/2001.

General Assembly


28

e) Entities directly or indirectly owned or controlled by SIAE

A. Norma Fund - SIAE, at 31 December 2019, holds no. 1,658 units (equal to 100% of the shares issued) for a total net value of € 186,451,226 (unit value of € 112,455.504) of the "Norma" closed-end real estate investment fund, reserved for institutional investors and established on 19 December 2011. The subscribed assets of the Fund as of 31 December 2019 amounted to € 164,609,996 corresponding to 1,658 units.

B. Aida Fund - The Norma Fund at the end of 2012 acquired the AIDA real estate fund. This Fund launched its operations in 2011 with an initial subscribed capital of € 63,900,000 divided into 639 units with a unit value of € 100,000. The Fund currently has subscribed assets of € 79,073,964. The total net value of the fund as at 31/12/2019 is equal to € 64,505,966 (796 units with a unit value of € 81,037.646).

C. Armonia - SIAE became member to the "Armonia" European Group of Economic Interest (EEIG) created in April 2013 to simplify the issuing of pan-European licenses, offering a single hub for the use of the repertoires they represent, in line with the objectives of transparency and efficiency required by the European Union Directive 2014/26/EU on the collective management of rights. The membership fees for the year 2019 amount to € 143,406.

D. Fast Track (F.T. the digital copyright network) - is a simplified joint stock company of which SIAE holds 9.84% of the shares for a total value of € 3,642. The statutory objective is to connect the databases of the various companies making them interoperable. F.T. is a technology supplier that creates solutions for the benefit of partners and the CISAC community, aimed at improving the management of copyright in terms of information accuracy and exchange speed.

E. RAI and MEDIASET - SIAE holds RAI shares for a book value of € 130,887 and a nominal value of € 1,071,100 (0.44% of the related share capital). SIAE is also the owner of Mediaset shares (0.0006% of the related share capital) with a nominal value and book value of € 3,615.

F. Nabucco Fund - SIAE (for the Solidarity Fund), on 2 October 2014, subscribed no. 312 shares for a total value of € 31,200,000 (unit value of € 100,000.00) of the “Nabucco” closed-end real estate investment fund, reserved for institutional investors. The total net value of the fund at 31/12/2019 is € 32,710,938 (312 units with a unit value of € 104,842,750).

G. Pentagramma Fund - on 3 August 2015 SIAE subscribed no. 2,950,000 units of the SICAV-SIF Indaco Pentagramma for a total value of € 295,000,000 (unit value of € 100). On 31 December 2015, additional shares were subscribed for 595,474.394 (unit value of € 100.76) linked to SIAE’s management of the Solidarity Fund, for a total value of € 60,000,000. In May and June 2016, SIAE acquired further no. 1,166,747.690 shares with a nominal value of € 102.85 each (total value € 120,000,000) and n. 1,366,386,882 shares with a nominal value of € 102.46 (€ 140,000,000). In 2018, SIAE subscribed to a further n. 107,407,141 shares with a nominal value of € 102.10 each (total value € 10,966,269) and, at the same nominal value, to no. 11,664,533 shares (total value € 1,190,949), the latter belonging to SIAE for the Solidarity Fund. Therefore the book value of the Fund as at


29

31/12/2019 is equal to € 627,157,218. The total market value of the Fund as at 31/12/2019 is equal to € 630,799,935. SIAE holds 100% of the shares of the fund, the deposit of which is entrusted to Banca Profilo.

H. B.I.E.M. SIAE is Vice-President of BIEM (Bureau International des societes gerant les droits d'Enregistrement et de reproduction Mecanique – The International Bureau of Societies Managing Recording and Mechanical Reproduction Rights), an organization based in Paris, composed of 51 companies representing 120 countries in the field of mechanical reproduction rights and whose main purpose is to ensure the recognition and effective protection of these rights through the negotiation of standard contracts with the IFPI (International Federation of the Phonographic Industry), which represents the phonographic industry, to establish the conditions of use of the repertoires managed by the Authors’ Societies. It is also responsible for ensuring technical collaboration among its members. As a non-governmental organization, BIEM represents and defends the interests of its member companies in international institutions. SIAE owns a share (€ 15.24) of the share capital (€ 411) of B.I.E.M..

f) Remunerations paid to the Supervisory Board and the Management Board During the 2019 financial year, the remuneration paid to the governing bodies in office at SIAE were as follows:

- to the Supervisory Board: € 379,068

- to the Management Board: € 413,710

- to the Board of Auditors: € 160,000.

In this regard, it should be noted that the determination of the remuneration of the aforementioned bodies is expressly regulated by the Articles of Association (Article 8).

The following remuneration was also paid to the additional auditing bodies on SIAE:

- to the Supervisory Body pursuant to Legislative Decree No. 231/2001: € 130,405

- to the Independent auditors: € 108,864.

It should be noted that, in 2019, SIAE also paid a total of € 49,737 to the Advisory Committees and € 12,000 to the Disciplinary Committee, again within the limits set by the Articles of Association (Article 11).


30

g) Financial information referred to in point 2

Point 2 of this document illustrates:

- the collections obtained and the related amounts due withheld during the financial year;

- separate income statements between the authors management and the other SIAE’s managements;

- income statements broken down by repertoire, category and type;

- the financial flows associated with the allocation process of each repertoire and type;

- cash flows broken down by repertoire;

- the balances of the transactions with the other Collective Management Organizations. The details of the operations carried out with the individual CMOs are shown in the appendix of this document (Annex 1).

h) Special Report regarding the utilization of the amounts deducted for social, cultural and educational purposes In compliance with the requirements of Art. 28, paragraph 3 and the relative Annex [point 1 h) and point 3 a) and b)] the requested information is laid out.

Year 2019 was one of the most active years for SIAE in supporting cultural promotion. 144 initiatives were financed in favour of which SIAE allocated resources for € 3.7 million including sponsorships, contributions to activities organized by third parties and donations.

Social (€ 444 thousand), educational (€ 576 thousand) and cultural promotion projects were supported, including the Italian Music Export project (€ 2.8 million).

SIAE’s Solidarity Fund granted charitable contributions for € 0.6 million to members in difficulty. The withdrawal of 10% of 2019 Private Copy revenue, equal to € 13.5 million, normally destined for the "PER CHI CREA" (“For those who create”) project, was instead included in the "Cura Italia" Decree of March 2020 in order to support workers employed in the entertainment industry (Authors, Artists and Agents) affected by the crisis resulting from COVID-19.

The 5% deduction from Music Mechanical Reproduction Rights revenue operated in 2019 amounted to € 17,651,687 and will be a support for national music and serious music.


31

The use of resources based on purpose of use is summarized in detail below:

SIAE FOR CULTURE

1 Bando "I classici di oggi" e contributo 344.0002 I.M.E. italian music export 124.837

3Dalla Letteratura Italiana alla Produzione AudiovisivaGlobale - Istituto Luce

90.000

4 Giornate Degli Autori 90.0005 Premio Goliarda Sapienza - Le Donne Raccontano 76.5726 Air - Artisti In Residenza 70.0007 I Love GAI 60.0008 Il Cinema In Piazza 60.0009 Un Tenco Lungo un Anno 60.000

10 Co2 - 7° Fase 55.00011 1° Maggio 50.000

12 Finale Tim Cup 50.00013 JAZZ DO IT 2019 50.00014 Radio 2 Social Club 50.00015 Una Lunga Storia 50.00016 Il Fantastico Rodari 45.00017 Festa della Musica 40.00018 Il Cinema è una Cosa Meravigliosa 40.00019 Lucca Summer Fest 40.000

20 Moviemov Italian Film Festival 40.00021 Series Lab 40.00022 Premio De Andre' - "Parlare Musica" 35.00023 Bif&St - Tributo A Ennio Morricone 30.00024 Bud Spencer “Le Molte Vite Del Gigante Gentile” 30.00025 Centenario Casa Bixio - 100 Anni per il futuro 30.00026 Collana Francese di scrittori italiani 30.00027 Festa Del Cinema Di Roma 30.00028 Honoring Lina Wertmuller 30.00029 Premio Davide di Donatello 30.00030 Ravenna Festival 30.00031 Festival di Castrocaro 2019 25.000

32 Milano Music Week 25.00033 Premio Solinas 25.00034 Una Striscia di Terra Feconda 25.00035 A Voice For Europe – Una Voce Per L’europa 20.00036 Ariston Comic Selfie 20.00037 C'era Una Volta Sergio Leone - Mostra 20.00038 Cinegiornali attività cattolica Roma nel mondo 20.00039 Festival Della Comunicazione 20.00040 Genova Per Voi 20.00041 Il Vento Del Nord 20.000

42 Italy Europe in Venice - convegno 20.00043 Pitchbook Mart 20.00044 Premio Bindi 20.00045 Premio Laurentum - XXXIII Edizione 20.00046 Premio Massara 20.00047 Sostegno ai giovani autori – progetto Israel 20.00048 CASA SIAE 84.00049 Archivissima 15.00050 Ebraica- Festival Internazionale Di Cultura 15.000

51 Festival Nazionale Del Doppiaggio Voci Nell’ombra 15.00052 La Milanesiana 15.00053 NOIR-Gosetti 15.00054 Omaggio a Bernardo Bertolucci -Piazza San Cosimato 15.00055 Ortigia Film Festival 15.00056 Premio SIAE Accademia Silvio D’Amico 15.00057 The Italian Masters 15.00058 Salinadocfest 10.30059 56° Festival Nuova Consonanza 10.00060 Area Sanremo 10.00061 Aspettando Festa della Musica 10.00062 Baby Voice 10.00063 Così mi fai ridere 10.00064 Italian Music Summer Summit 10.00065 Mi Ami 10.00066 MIA - 100autori 10.00067 No'hma 10.00068 Premio Carlo Bixio 10.00069 Premio Lelio Luttazzi 10.00070 Ravenna Jazz 10.00071 Rock Contest 10.000

72 Settimana Internazionale Della Critica 10.00073 Stella del mare Baglioni 10.00074 Time In Jazz 10.00075 Tramedautore 10.00076 Proscenium Festival della Canzone d'autore 9.00077 Premio Mazzella 8.00078 46° Flaiano Film Festival 6.00079 Capalbio Libri 5.00080 Cortinametraggio 5.00081 Gran Premio Internazionale del doppiaggio 5.000

82 Il Mito e Il Sogno 5.00083 Meraviglioso Modugno 5.00084 Musiche In Mostra 5.00085 Nastri D'argento 5.00086 Per il cinema italiano 5.00087 Premio Bertoli 5.00088 Premio Mia Martini 5.00089 Premio Musica contro le mafie 5.00090 Premio Parodi 5.00091 Reate Festival 5.000

92 Rockol Awards 5.00093 Soundtrack Stars Award 5.00094 Syntax Ensemble - Breaking Music 5.00095 Unforgettable 5.00096 Ventennale di “Voci nell’ombra” 9.00097 Carpe Diem XXV Festa della musica di Lanuvio 3.00098 Strings City 3.00099 Tutto l'amore che conta davvero - Mango 3.000

100 Festival Nuovi Spazi Musicali 1.000Total 2.686.709


32

SIAE FOR EDUCATIONAL ACTIVITIES

SIAE FOR SOCIAL INITIATIVES

SIAE FOR EDUCATIONAL PURPOSES1 Più Libri Più Liberi 125.0002 CIMM - della Biennale di Venezia 90.0003 Campus Band Musica & Matematica 50.0004 #Ioleggoperchè 40.0005 Concorso Di Composizione Luciano Berio 30.000

6Sanremo Rock & Trend Festival - XXXII Edizione –Bando Parole Rock

30.000

7 Centro Sperimentale - Borse Di Studio 25.0008 Le parole Valgono - Festival della lingua italiana 25.0009 Arci movie - FILMaP 25.000

10 Fondo Sviluppo Sceneggiature Pitching 25.00011 Centro Teatrale Santacristina "La scuola d'estate" 20.000

12 Scuola di Sceneggiatura “Leo Benvenuti” 20.000

13ACCADEMIA TEATRO ALLA SCALA - Accademia DiPerfezionamento Per Cantanti Lirici E Master InPerforming Arts Management

10.000

14 Campus della musica 10.00015 Corso Scrittura Drammaturgica per Musical 10.00016 Orchestra Sinfonica Dei Quartieri Spagnoli 10.00017 Bulli(Z)Zoo 9.00018 Corsi Di Formazione Artistica “L’Arte nel Cuore” 7.00019 Premio Donida 5.00020 Festival Di Ghedi - La bottega degli autori 5.00021 Indicibili Incanti 5.000

Total 576.000

SIAE FOR SOCIAL PURPOSES1 Abbuoni eventi a sostegno delle zone terremotate 91.5182 Una Serata di Stelle per “Il Bambino Gesu'” 50.0003 Il Jazz Italiano Per Le Terre Del Sisma 50.0004 E la vita bussò 40.0005 Tour Sociale - Ladri Di Carrozzelle 40.0006 Amatrice - Borse di studio per soggiorni educativi 25.6007 La Partita Del Cuore 20.0008 Ricostruzione Scuola di Musica di Camerino 20.0009 Risorgimarche 20.000

10 AIL CHARITY GALA 10.00011 Telethon 10.000

12 Unicef - Liberi di scegliere 10.000

13Sistema Orchestre e Cori Giovanili e Infantili in ItaliaOnlus

8.000

14 Ballata per Genova 7.00015 Ricostruzione Scuola Primaria e Infanzia di Muccia 9.01716 Concerto per la vita 5.00017 Gemelli per la vita 5.00018 Quel sogno di un bambino 5.00019 Strumenti Ex Otago 5.00020 Race for the cure 3.00021 Serata di Gala - AIRC 3.00022 VIS 3.00023 VARIE 8.908

Total 449.043


33

Fund for welfare purposes and for the encouragement of national arts

SIAE, as part of the Music repertoire, operates a 5% deduction on the proceeds for Performance Rights of Musical Works to be allocated to SIAE’s members whose works are assigned to the Music Division. The withholding is made in compliance with the provisions of the standard contracts of mutual representation with the foreign Authors Companies, or other contracts with entities representing the right-holders; the relative amounts are used exclusively for charitable purposes and to encourage the national arts. At 31.12.2019 the Fund amounts to approximately € 33.8 million still to be used. In 2019 € 17,651,687 were withheld and € 17,055,749 were granted (withheld in 2017) for the benefit of 96,353 Authors and Composers (€ 9.3 million) and 3,825 Publishers (€ 7.71 million).

Overall, SIAE, through a multitude of projects and cultural promotion plans, has allocated over € 22 million to support creativity and the authors most in need, in a general context in which there is a continuous reduction of any type of public support at both central and local level.

As already outlined, the 2019 funds destined for the "PER CHI CREA" (“For those who create”) project were donated, with the "Cura Italia" Decree to workers employed in the entertainment industry (authors, artists and performers, agents) affected by the crisis generated by the COVID-19 pandemic.

2) Financial information referred to in point 1, letter g.

a) Financial information on rights revenue – Premise A. Collections - The sums received by the Company resulting from collection services do not constitute

for SIAE an item of income that can be recognized in the profit and loss statement.

Such sums (or proceeds) are allocated to be distributed to the Associate Members (and Mandate Members) and identified in the report as a "debt" to the Associate Members (and Mandate Members) themselves, provided that this definition ("debt") does not represent either an "imbalance" or a financial gap, but sums allocated for distribution.

PROMOTIONAL, CULTURAL AND SOCIAL ACTIVITIES 2019Solidarity deductions equal to 5% on musical performing rights collections 17.651.687"PER CHI CREA" ("For those who create") Project Project suspendedSolidarity Fund ordinary subsidies 667.322Initiatives promoted by the Section Committees 3.092.995 Cultural, social and educational initiatives promoted by SIAE 618.757Total 22.030.761


34

In 2019, total collections for copyright recorded an increase of € 21.8 million over 2018, due to the good performance of "live" music and TV proceeds, which include proceeds paid by an important television network for the period 2017- 2018 previously placed on hold due to a still pending litigation.

Although the national macroeconomic situation has not facilitated growth and radical regulatory changes in the reference market, SIAE has maintained the average rate of the shares due at 14.9% which represent the cost of the service provided by SIAE to its members. These shares have steadily decreased in recent years, placing the Company among the most competitive in the world ranking.

Collections 2019 Collections Allocated sharesAllocated shares /

CollectionsCultural promotion activity

deductions Net to be distributed

Musical works: performing rights 426.116.753 74.036.862 17,4% 16.677.771 335.402.120 Musical works : reproduction rights 22.894.076 2.377.938 10,4% - 20.516.138 Musical works : private copy 26.808.968 804.269 3,0% - 26.004.699 Audiovisual works 51.710.346 5.316.325 10,3% - 46.394.021 Theatrical and Opera works 61.737.928 9.023.552 14,6% - 52.714.376 Literary works 6.454.100 900.573 14,0% - 5.553.528 Visual Art works 9.650.723 1.454.766 15,1% - 8.195.956 Rights from abroad 30.372.494 911.174 3,0% 973.916 28.487.404

Total collections 635.745.388 94.825.459 14,9% 17.651.687 523.268.242


35

In particular:

- Collections relating to the use of musical repertoires recorded an increase of € 25.5 million (+6% on 2018). This result is mainly attributable to the "Service Broadcasters" and the "Online" sectors. The first, as already mentioned, in relation to the accounting of substantial recoveries referring to previous years with an important television group. The second, on the other hand, is attributable to the growth of the streaming services market and to the efficiency of the identification system of the administered repertoire (SOPHIA) which has allowed for a significant increase in turnover. Live music is also on the rise. Conversely, the "mechanical reproduction" rights decreased (-19.5% on 2018).

- Royalties collected for audio-visual works show a decrease of € 2.5 million on 2018. This result is a consequence of the lower collection from broadcasting (-9.2%). It should be remembered that in 2018 substantial sums in arrears were collected from the primary national public broadcaster, only partially offset in 2019 by recoveries with an important television group. Without considering the trend of loss of revenue and previous recoveries, the normalized figure shows a growth trend over the years. The collection from video media records a negative figure (-21.1%) due to the constant and structural decline in the "physical" home video market, more than offset by the online collections (+ 67.9%), which represent the fastest-growing segment.

- A slight decrease in the proceeds recorded from theatrical and opera works (- € 1 million; -1.7%) attributable to the entry "broadcasting" for the regularization in 2018 of important adjustment items, only partially offset by the increase in proceeds from “Theatre” and “Other services”;

- The entries Literary Works and Figurative Arts and Rights from Abroad tend to be in line (to which reference is made to the appropriate paragraph).

Regarding the distribution of proceeds, please be advised that:

- the timing and the criteria that rule the distribution of proceeds are deliberated by the Management Board of the Company on the opinion of the Advisory Committees formed by Members

- SIAE meets the deadlines set out in Art. 17 of Legislative Decree No. 35/2017

- At the request of the interested parties, SIAE assigns important advances, allowing authors and publishers to obtain payment from copyright earlier than the actual distribution operations.

B. Proceeds – SIAE’s proceeds consist of "allocated shares" which are earned at the time of collection as remuneration for administrative services (collection, distribution, liquidation and payment of copyright) provided to Associate and Mandate Members.

The proceeds from the authorial sector, together with the fees for services provided to third parties on mandate or pursuant to law and together with the other proceeds, constitute the revenues shown in the “production value”.


36

Production value and financial income are intended to remunerate all the factors of production and other management costs and charges.

As already illustrated in paragraph 1 letter a), financial income is generated both by the various sources of financing identifiable in the Liabilities of the Balance Sheet (net assets, provisions for risks and charges, debts), and again by the management of copyright.

With specific regard to financial income deriving from the management of copyright, it should be noted that these appear characteristic due to the natural temporal distinction between collections and distribution (the incoming flows deriving from the collection precede the outgoing flows in favor of the Members), whose frequency and distribution rules are established by Members every year through the specific bylaws approved by the Advisory Committees (in compliance with the provisions of Legislative Decree No. 35/2017).

The financial income, similarly to what happens for most of the other Collective Management Organizations, and as the Assembly ruled in the July 2019 meeting, contribute to covering the operating costs of the management.

The shares due to SIAE are withdrawn at the time of collection and the remainder is placed among debts as sums are awaiting to be attributed to the right-holders. The amounts invoiced on the basis of the licenses granted, but not collected, do not result in a deduction on the assumption that the intermediation service is performed at the time of collection.

The commission is intended to remunerate the operating costs incurred net of complementary and accessory revenues.


37

b) Financial information on the cost of rights management and other services provided by the Company to the rights-holders In compliance with the provisions of Legislative Decree No. 35/2017, Annex to Art. 28 paragraph 2, the income statements are presented as follows:

1. Separate Profit and Loss Account between management of Authors and other managements carried out by SIAE [point 2, letter b 2) and 3)]. 2. Authors’ Profit and Loss Account with a breakdown by category of rights (point 2, letter b 1)) with a distinction of the operating costs of each type and an indication of the resources that contribute to covering the costs.

The amounts due withheld from the Associate members on the proceeds and financial income attributed to the category contribute to cover net operating costs (operating costs minus ancillary revenues).

In the order:

1. Separate Profit and Loss Account with a distinction between management of Authors and other managements carried out by SIAE (point 2, letter b 2) e 3)). The analytical accounting process makes it possible to process the economic accounts of the various services and record the related economic results. The data of the previous year have been made comparable with those of the current year. The overall economic result of the management of Authors shows a substantial breakeven. It is a clearly improved result compared to 2018 which recorded a substantial loss (- € 5.7 million). In 2019, the increase in collections generated an increase of approximately € 2.7 million in the amounts due and the financial management generated greater income for approximately € 4 million. The various repertoires (especially Music and Cinema) took part in the result from the management of Authors, recording a positive contribution margin of € 5.6 million. The Other Managements summarize the economic accounts of the Services on behalf of third parties (Revenue Agency, Monopolies, etc.), of the Private Copy, of the “PER CHI CREA” (“For those who create”) project, of the management of Copyright Authentication (GE.VI), etc. Compared to the previous year, these managements achieved a margin of € 1.8, approximately € 5.2 million lower than that of 2018 (approximately € 7 million). This reduction is to be referred in particular to the worsening of the performance of the Copyright Authentication Management which shows a deficit of approximately € 1 million (last year it was a profit of € 0.2 million), of the Private Copy which required an intense collaboration with the institutions for the updating of tariffs and the definition of the operational aspects relating to the cases of exemption and reimbursement following the various judgments on the subject (Court of Justice and Council of State) and the consequent regulatory intervention; this activity generated an increase in personnel and management costs. In the framework of the agreements for Services on behalf of Third Parties, lower revenues (- € 0.7 million) from the Customs Agency and an increase in activities aimed at cooperation for VAT assessment are noted.


38

2. Management of Authors Profit and loss account with a breakdown by category of rights [point 2, letter b point 1)]. It is common knowledge that SIAE is a generalist company in the sense that it manages, through the Sections, all forms of creative expression in the fields of music, cinema, theatre, opera, literary works and the visual arts. MUSIC (The Music Section) manages the rights of public performance (DEM), reproduction (DRM), communication, recording, digital reproduction, Online, private copying (authors' share). In synergy with the management of the repertoire, the Music Section collects the related rights and membership fees from various entities. CINEMA (The Cinema Section) manages the fair compensation due for the use of cinematographic works. It carries out collection services for the insurance quotas of films and venues, the public cinema register, etc. DOR – LIRICA (Theatre, Opera and Ballet and Radio and Television Works) manages the rights of representation of theatrical and lyrical works, reproduction (DRM), communication, digital reproduction, online, private copying (authors' share). This Section carries out rental and critical editions services. OLAF (Visual Arts and Literary Works) manages literary works and the figurative arts, in particular: the rights of acting in public, of edition, of reproduction of the works of the figurative arts, the resale right, the lending right, the right of reproduction (DRM), of communication, of digital reproduction, reprography, online, private copying (authors' share). This Section carries out filing of unpublished works and title page stamping services. The economic accounts relating to the individual repertoires set out in this document were prepared with the aforementioned criteria.

SEPARATE INCOME STATEMENT 2019 AUTHORS OTHER SIAE MANAGEMENTS TOTAL SIAE

COLLECTIONS 635.745.388 0 635.745.388

OPERATING COSTSStaff 57.517.491 16.084.470 73.601.961Agents 29.947.017 11.701.315 41.648.332Management and functioning costs 30.762.046 29.006.489 59.768.535Information technology services 5.765.456 1.456.793 7.222.249Amortizations and devaluations 8.814.670 1.050.080 9.864.750Taxes and fees (106.303) 106.303 0TOTAL COSTS 132.700.377 59.405.450 192.105.827Revenues for ancillary services 29.735.146 60.505.834 90.240.980NET OPERATING COSTS 102.965.231 (1.100.384) 101.864.847Allocated shares on collections 94.761.048 - 94.761.048

Financial revenues 7.773.572 660.942 8.434.514

RESULT OF THE ACCOUNTING PERIOD (430.611) 1.761.326 1.330.715


39

The following categories and types are identified within the repertoire:

REPERTORY CATEGORY TYPOLOGYMusic Musical works performed in public Live & background

BroadcastingSound filmsMultimediaAbroad

Musical works reproduced ReproductionBroadcastingMultimediaAbroadOther: private copy, etc.

Cinema Audiovisual works BroadcastingReproductionMultimediaAbroadOther: private copy, etc.

DOR-LIRICA (Theatre, Opera and Ballet, Radio and TV works) Opera and Ballet works Performance

ReproductionBroadcastingMultimediaAbroadOther: private copy, rental, etc.

Theatre works PerformanceReproductionBroadcastingMultimediaAbroadOther: private copy, etc.

OLAF Literary works ActingRentalReprographyReproductionBroadcastingMultimediaAbroadOther: private copy, etc.

Visual Art ReproductionBroadcastingMultimediaAbroadResale RightOther: private copy, etc.


40

The following standard income statement is produced for each category and type, reported here by way of example:

The economic data are produced by the analytical accounting system which SIAE has been using for many years. The structuring of the analytical data allows to detect proceeds, revenues, and costs directly from the management centres, from the working processes and from the typologies, categories and administered repertoire. The set of data relating to copyright constitutes the authors' income statement. Similarly, the economic data of SIAE’s other managements are collected. The attribution process detects the costs of the various organizational structures, while the accounting separation cycles address the data first on each specific working process and, therefore, on the repertoire/category and type. The process view constitutes additional management information. The following are the defined working processes:

1. Licensing and collection 2. Processing and distribution 3. Staff 4. Corporate

Total categoryA B C Repertory

COLLECTIONS

OPERATING COSTSStaffAgentsManagement and functioning costsAmortizations and devaluationsTaxes and fees

OTHER REVENUES AND INCOMESRevenues for ancillary services

NET OPERATING COSTS

COPYRIGHT COMMISSION

FINANCIAL REVENUES

RESULT OF THE AUTHORAL MANAGEMENTANCILLARY SERVICES BALANCEREPERTORY TOTAL RESULT

Type of use


41

The allocation of the costs of the licensing and collection process to the repertoires/categories/types follows the following path: - The costs of the network structure are charged on the basis of a recognition of the activities used for

the various businesses. The survey evaluates the documents issued by each structure, their volume and specific processing times. In this way, the activities of the individual operating points are measured (local branches, market control and development, authorial credit recovery) which therefore help to establish the values to be assigned to the specific repertoire/category and type. The value is also used to charge the costs of the other network offices (regional and central).

- The costs of the Agents mainly refer to the process of rights collection and are directly attributed to the repertoire/category and type as a derivation of the collections. However, a part is attributed to the working process in proportion to the activity dedicated to musical programs; this share is a percentage that is transferred from one process to another.

- The collection costs of the central business structures are recognized at the level of the single cost centre of the operating units (sections, etc.) and at the same time on an object that identifies the process/business. The value of the operating units on the different categories and types of law is used to allocate the costs of the other Sectional and Divisional offices.

The allocation of processing and distribution costs mainly refer to the central business structures and are charged to a cost centre and an object that identifies the process and the repertoire/category and type. The value of the operating units is used to charge the costs of the other Sectional and Divisional offices. The cost of the staff process is fuelled by all the charges recorded from the cost centres of the structures that offer services internal to the business and to the structures supporting corporate governance (Personnel, Administration, Purchasing and logistics, Information Technology, etc.) and are attributed to the repertoire/category and type based on the value of the personnel costs overall recorded for the collection and processing process (cost to cost on the entry "Personnel"). The corporate process detects the costs on the cost centres of the structures relating to the corporate bodies, general management and support offices as well as those attributed on orders to which corporate general expenses converge (Income taxes, costs of strategic management, etc.). These costs are addressed on repertoire/category and type according to turnover. Resources used to cover costs [point 2 letter b) and 4)] Revenues deriving from ancillary activities to the authorial business contribute, in reduction of operating costs, to the income statement of the repertoire/category and type and are attributed on the basis of their complementarity with the collection (example: administrative rights and fines and penalties follow the collection entry together with which they have been invoiced while the membership fees are attributed according to the members of the individual sections, etc.).


42

Financial income is allocated in terms of category and repertoire level. The attribution is made based on the ability of each category to generate financial sources (Reserves, Funds, debts net of credits). Financial income contributes to the coverage of net operating costs.

Amounts withheld for social, cultural and educational services [point 2, letter b) and point 5)]

In compliance with the provisions of the reciprocal representation agreements with the foreign Collective Management Organizations and SIAE’s Association Agreements, the Order of Distribution of the Music Division establishes the possibility of deducting up to 10% of the copyright on musical representation and performances for the promotion of Italian music. Since 2016, the rate of deduction applied has been of 5%.

The withheld amounts fuel the Fund for charitable purposes and for the encouragement of the national arts, the amount of which at 31/12/2019 is equal to €33,764,626 and the use of which is decided by the Management Board.

Category 2018 2019 TotalMusical performance: dancing - entertainment 4.747.417 4.793.874 9.541.291 Musical performance : concert - other events 2.465.321 2.564.626 5.029.946 Musical performance: cinematographic 447.828 501.932 949.760 Broadcasting 4.264.054 5.107.271 9.371.324 Background music 3.489.206 1.824.839 5.314.045 Abroad 844.091 970.899 1.814.991 Multimedia 742.517 1.000.751 1.743.268 TOTAL 17.000.435 16.764.191 33.764.626

Years of realization - Solidarity funds


43

Deductions made on collections [point 2, letter b) and point 6)]

The deductions made on collections (allocated shares) during the accounting period are reported in the following table:

-Public performances, live and recorded, in the context of dancings, entertainments and small concerts

20,8% -Video reproduction (all channels General Permission, work by work licences) 18,0%

-Use of the soundtracks of film, short films, etc. in movie theatres 20,8% -Recording by radio and tv broadcasters 11,5%

- Broadcast of tv series, films, short films, etc. soundtracks by radio and tv broadcasters

11,5% -Video-musical reproduction (all channels General Permission, work by work licences)

9,325%

-Broadcast and recording by radio and tv broadcasters 11,5% -Reproduction on supports sold at a reduced price or distributed for free, for promotional campaigns, etc.

9,325%

-Broadcast in public establishments with radio, tv and cable radio 21,0% -Phono reproduction (ordinary channels General Permission) 7,325%

-Public performances, as concerts, magazines, bands and theatre variety

20,8% -Phono reproduction (Centralized licences for ordinary channels General Permission)

7,025%

-Megaconcerts (collection > € 30.000) 7,0% -Phono reproduction (General Permission editorial joint-offers, work by work licences)

10,0%

-Background music - Radio in Store 22,0% -Utilizations abroad 3,0% -Utilizations abroad 3,0% -Phono reproduction for DJ professional use 14,0% -Online broadcast (streaming, webcasting, etc.) 10,0%

-Original works performance or representation 8,0% -Original works performance 12,0% -Elaborated works performance or representation 22,0% -Elaborated works performance 22,0% -Broadcast and recording by radio and tv broadcasters 11,5% -Broadcast and recording by radio and tv broadcasters 11,5%

-Broadcast in public establishments with radio, tv and cable radio 21,0% -Broadcast in public establishments with radio, tv and cable radio 21,0%

-Online broadcast (streaming, webcasting, etc.) 10,0% -Online broadcast (streaming, webcasting, etc.) 10,0% -Utilizations abroad 3,0% -Utilizations abroad 3,0% -Audio reproduction 10,0% -Audio reproduction 10,0% -Video reproduction 18,0% -Video reproduction 18,0%

-Broadcast by radio and tv broadcasters 11,5% -Broadcast by radio and tv broadcasters 11,5%

-Broadcast in public establishments with radio, tv and cable radio 21,0% -Broadcast in public establishments with radio, tv and cable radio 21,0%

- Reading and acting in public of literary works 8,0% -Visual art works reproduction (pictures, sculptures, graphic works and photographies)

12,5%

- Lending provided by public libraries 7,5% - Resale right (sales of works, subsequent to the first) 17,0% -Reprography (reproduction, for personal use within the 15% of the volume)

20,0% -Online broadcast (streaming, webcasting, etc.) 10,0%

-Online broadcast (streaming, webcasting, etc.) 10,0% -Utilizations abroad 3,0% -Utilizations abroad 3,0% -Video reproduction 18,0% -Audio reproduction 10,0% -Video reproduction 18,0% -Publishing rights 3,0%

- Private copying levy for television broadcasting of audiovisual works

11,0%

- Private copying levy for video reproduction of audiovisual works 18,0%

-Online broadcast (streaming, webcasting, etc.) 10,0% -Utilizations abroad 3,0%

OLAFLiterary works Visual art

CINEMA Audiovisual works

Opera - Ballet Theatre

2019 - SIAE ALLOCATED SHARES

MUSICMusical performance rights Mechanical reproduction rights

DOR - OPERA


44

c) Financial information on amounts due to the rights-holders The financial flows of the amounts destined to the distribution are structured as follows:

Relationships with other foreign Collective Management Organizations [point 2, letter d)]

2019 Balance of Payments to and from abroad, points out a negative balance equal to € 23.767.098.

Such balance is due to collections (net of the “allocated share” withheld by the foreign sister societies) of € 30.372.494 which resulted much lower than the amount distributed to other foreign Collective Management Organizations.

Flows to be allocated at January 1, 2019 791.447.868 Advances at January 1, 2019 (80.378.779)Fund for Music prepayments devaluations 249.061 Total at January 1, 2019 711.318.150 Net collections 2019 539.969.204 Amounts distributed in 2019 (490.927.679)Total at December 31, 2019 760.359.675 Flows to be allocated at December 31, 2019 836.723.236 Advances at December 31, 2019 (76.602.081)Fund for Music prepayments devaluations 238.520 Total at December 31, 2019 760.359.675

Collections Payments BalanceCINEMA 2.657.553 (8.223.071) (5.565.517)DOR 996.824 (349.563) 647.261OPERA (Opera and Ballet) 91.176 (255.231) (164.055)OLAF (Visual Arts and Literature) 2.349.441 (1.733.154) 616.287MUSIC 24.163.103 (43.578.574) (19.415.471)DIRECT MANAGEMENTS 114.397 114.397

Total 30.372.494 (54.139.592) (23.767.098)

ABROAD - Collections and Payments


45

The Sections/Divisions movements from and to foreign countries are represented below.

Please note that each Collecting Society transfers the royalties net of commissions. On collections from abroad, SIAE applies a 3% commission.


46

For the details referred to in point 2 letter d) please see the annex to the document.

Collections from abroad in 2019

The results of the comparative analysis of income received from abroad in 2019 compared to 2018 for the various directories administered are summarized below.

Music Division Repertoire + 4,55% (Musical Performing rights - Mechanical reproduction rights – Broadcasting)

From the comparison of the total remittances received in 2019 (Musical Performing Rights – Mechanical Reproduction Rights - Broadcasting) compared to those of 2018, a total increase of 4.55% is recorded; this result is the product of different trends between the geographical areas and the different sectors from which the proceeds of the companies from abroad originate. In fact, the rights for Musical Performing Rights uses of SIAE’s repertoire abroad increased by 15.98%; mechanical reproduction rights decreased overall by 27.73%, while proceeds from cable uses increased by 2.09%.

Some of the causes that led to these results are highlighted separately below.

With regards to the rights of public performance and communication to the public, the increase in 2019 is still attributable to a greater extent to remittances received from European companies. An infinitesimal increase in proceeds from European countries reflects the circumstance that online uses are out of this survey, as all multinational music services are now licensed at multi-territorial level and the related proceeds are made directly by the Company.

The total amount of remittances constitutes 73.20% of the general total of remittances from abroad. In 2019, European companies paid a total of € 17,687,431 to SIAE compared to € 6,474,994 from the rest of the world. This result still appears to be attributable to two reasons that have remained constant over time: the relative greater popularity of the Italian repertoire in the culturally and geographically closest countries and in the structurally more profitable markets in terms of copyright and the higher level of rights protection in the European Economic Area with compared to the rest of the world, including the USA.

CONTINENT 2019 2018Change %

2019-2018% total 2019

AFRICA 16.497 21.847 (24,49%) 0,07%ASIA 2.545.713 1.658.443 53,50% 10,54%EUROPE 17.687.431 17.632.209 0,31% 73,20%NORTH AMERICA 2.836.366 2.628.454 7,91% 11,74%OCEANIA 338.438 290.396 16,54% 1,40%SOUTH AMERICA 738.657 879.509 (16,09%) 3,05%

TOTAL 24.163.102 23.110.859 4,55% 100,00%

Musical Performing rights + Mechanical Reproduction rights + Broadcasting


47

With regard to Mechanical Reproduction Rights, a total decrease of 27.73% is noted, with a decrease of 35.51% on remittances from Europe. It can be observed that the trend in reproduction rights in the various countries is affected not only by the incidence of direct multi-territorial licenses, but also by the rapid decline in download services, whose fees are mostly qualified as reproduction rights. It should also be remembered that 2018 remittances had increased thanks to a large payment received by the German sister company GEMA for private copying (€ 1,912,376) and following a ruling by the High Court of Berlin which had released the payment of sums previously set aside both for the entry into force of new rules regarding the publisher's share for private copying, rules that led to the release of proceeds relating to mobile telephony and tablets for the years 2011-2016. Therefore, the effects on collections were not structural but only related to the contingency described above.

A more detailed analysis was conducted by geographical areas (Europe, North America, South America, Asia, Australia, and Africa), as per the commented cards for each territory shown below.

INCOME FROM ABROAD MUSICAL PERFORMING RIGHTS - CABLE – MECHANICAL REPRODUCTION RIGHTS BY GEOGRAPHICAL AREAS - COMPARISON 2018 – 2019


2019-2018% total 2019

AFRICA 16.497 19.647 (16,03%) 0,09%ASIA 2.144.944 1.478.076 45,12% 11,40%EUROPE 13.237.858 11.420.863 15,91% 70,35%NORTH AMERICA 2.506.591 2.268.900 10,48% 13,32%OCEANIA 256.988 225.409 14,01% 1,37%SOUTH AMERICA 654.401 812.348 (19,44%) 3,48%

TOTAL 18.817.279 16.225.242 15,98% 100,00%

Musical Performing rights


48

• EUROPE

Total: +0.31%

Musical Performing rights: +15.91% - Cable: +1.89% - Mechanical reproduction rights: -35.51%

Europe is still the geographical area from which the majority of revenues come from, with 73.20% of the total revenues from abroad for performing rights, mechanical rights and cable.

The increases shown below are calculated as a change in the total 2019 revenue, which amount to € 17,687,431. The most important revenues obviously come from the most important Societies, such as SACEM/France, increasing from € 3,848,643 in 2018 to € 4,240,430 in 2019 and PRS/UK, increasing from € 1,020,643 to € 1,415,244. Other noteworthy increases regarded OSA/The Czech Republic (from € 134,177 to € 217,567), SUISA/Switzerland (from € 2,361,179 to € 2,502,613), STIM/Sweden (from €198,066 to € 269,727), SGAE/Spain (from €799,173 to € 919,793), KODA-NCB/Denmark (from € 290,107 to €


2019-2018% total

2019

AFRICA - - - 0,00%ASIA 14.871 - 100,00% 1,18%EUROPE 1.209.781 1.187.290 1,89% 95,75%NORTH AMERICA - - - 0,00%OCEANIA 1.097 2.156 (49,13%) 0,09%SOUTH AMERICA 37.711 48.189 (21,74%) 2,98%

TOTAL 1.263.460 1.237.635 2,09% 100,00%

Broadcasting


2019-2018% total

2019

AFRICA - 2.200 (100,00%) 0,00%ASIA 385.898 180.368 113,95% 9,45%EUROPE 3.240.469 5.024.056 (35,51%) 79,36%NORTH AMERICA 329.775 359.555 (8,28%) 8,08%OCEANIA 80.353 62.832 27,89% 1,97%SOUTH AMERICA 45.868 18.972 141,77% 1,12%

TOTAL 4.082.364 5.647.982 (27,73%) 100,00%

Mechanical Reproduction rights


49

351,907), HDS-ZAMP/Croatia (from € 39,061 to € 86,458), IMRO/Ireland (from € 35,314 to € 103,342) and ARTISJUS/Hungary (from € 198,336 to € 298,477).

A positive trend in total revenues received in 2019 compared with 2018 was showed also in the case of BUMA-STEMRA/The Netherlands, TONO/Norway, NCIP/Belarus, TEOSTO/Finland, STEF/Iceland, LATGA-A/Lithuania, ZAMP/Macedonia, SOZA/The Slovak Republic, SOKOJ/Serbia, SAZAS/Slovenia.

As to SABAM/Belgium (from € 489,677 to € 606,686) it has to be noted that, despite the increase in the total amount paid in favour of SIAE, revenues for cable uses relating to 2018 were available for SIAE only in the first days of January 2019; therefore, the revenues relating to 2017 and 2018 were received in 2019. 2019 revenues for cable uses therefore covered a revenue decrease for performing and mechanical reproduction rights in comparison with 2018.

Compared with 2018, payments from GEMA/Germany decreased in 2019. This is understandable – as highlighted above – in light of the payment in 2018 of a large amount for private copying, which is not structural and cannot be repeated in the future. However, it is to be highlighted an increase as to performing rights revenues, from € 2,177,747 to € 2,700,943; there was a decrease in cable revenue (from € 2,662 to € 1,355) but an increase in mechanical reproduction rights compared with 2017, the year during which no previous amounts for private copying were paid by GEMA (€ 656,431 in 2017 compared with € 841,397 in 2019).

A decrease was recorded as to the payments from:

• UCMR-ADA/Romania (from €259,289 to € 126,771) • SPA/Portugal (from € 181,057 to € 145,254) • ZAIKS/Poland (from € 366,697 to € 346,063) • RAO/Russia (from € 127,744 to € 49,493)

With regards to mechanical reproduction rights, positive results are observed in the following countries:

• Denmark/KODA-NCB (from € 18,679 to € 47,727) • The Netherlands/BUMA-STEMRA (from € 110,309 to € 132,672) • Switzerland/SUISA (from € 293,312 to € 336,549) • Poland/ZAIKS (from € 28,944 to € 35,605)

A negative trend compared with 2018 is instead observed for Austria/AUME (from € 151,242 to € 98,006), Belgium/SABAM (from €105,184 to € 90,144), France/SACEM (from € 1,248,118 to € 1,192,167)

It is to be noted that the average Euro/local currency exchange rate in 2018 and 2019 had the following trend for some of the aforementioned countries:


50

• SOUTH AMERICA Total: -16,09%

Musical Performing rights: - 19.44% - Cable: - 21.74% - Mechanical reproduction rights: + 141.77%.

From 2018 to 2019, in the South American geographical area the increase in payments for performing rights regarded only APDAYC/Peru (from € 39,019 to € 44,299 and AGADU/Uruguay (from € 7,454 to € 8,403).

A decrease is observed especially for SADAIC/Argentina (from € 259,442 to € 195,734) and UBC/Brazil (from € 342,249 to € 310,893). The decrease also affected the revenues for cable uses, which in any case do not constitute a significant part of payments in the geographical area in question.

As to mechanical reproduction rights, the economic results of Argentina/SADAIC (from € 7,668 to € 10,295 despite the unfavourable Argentine Peso/Euro exchange rate) and Brazil/UBC (from € 10,410 to € 34,562) are in contrast with the trend.

It is to be noted that the average Euro/local currency exchange rate in 2018 and 2019 had the following trend with regard to the aforementioned countries:

(amount of foreign currency for 1 euro)

Country and local currency

Average exchange rate

2019


2018Poland – zloty 4,2976 4,2615United Kingdom – GBP 0,87777 0,88471Romania – new leu 4,7453 4,654Russia – russian ruble 72,4553 74,0416Svizzera – Swiss franc 1,1124 1,155Hungary – Hungarian forint 325,2967 318,8897Source: Banca d’Italia


Country and local currencyAverage exchange

rate 2019


2018Argentine – argentine peso 53,8229 32,9094Brasil - real 4,4134 4,3085Perù – nuevo sol 3,7364 3,8793Uruguay – uruguayan peso 39,4297 36,2299Source: Banca d’Italia


51

With regards to Venezuela, a country still in deep economic and humanitarian crisis, SACVEN did not make payments either in 2018 or in 2019.

• NORTH AMERICA Total: +7,91%

Musical Performing rights: + 10.48% - Mechanical reproduction rights: - 8.28%

The increase in performing rights is attributable to higher payments from ASCAP/USA (from € 909,182 to € 1,138,970), SESAC/USA (from € 1,425 to € 9,532) and SOCAN-SODRAC/Canada (from € 235,578 to € 246,197). There was an increase of payments from SACM/Mexico (from € 157,319 to € 192,633).

A decrease can be noted with regards to BMI’s (USA) payments (from €938,188 to € 907,593).

With regards to mechanical reproduction rights it is to be noted the increase in payments from HFA/USA (from € 207,278 to € 282,453).

There is a decrease in payments from SOCAN-SODRAC/Canada for mechanical reproduction rights (from € 134,010 to € 47,321).

It is to be noted that the average Euro/local currency exchange rate in 2018 and 2019 had the following trend with regards to the aforementioned countries:

• ASIA Total: +53,50%

Musical Performing rights: + 45.12% - Cable: + 100% - Mechanical reproduction rights: + 113.95%

The total increase is to be mainly attributed to the important payment from JASRAC/Japan (from € 1,296,130 to € 2,179,683) equal to the increase of € 883,553, due to a growth in the amounts paid both for performing rights and mechanical reproduction rights.

Another noteworthy increase regards the payments from ACUM/Israel (from € 97,150 to € 142,676), MESAM/Turkey (from € 13,246 to € 22,834), MÜST/Taiwan (from € 11,721 to € 19,828), CASH/Hong Kong (from € 35,955 to € 38,563). Increases, even though smaller, can be noted in the case of COMPASS/Singapore and MCT/Thailand.


Country and local currencyAverage

exchange rate 2019


2018Canada – canadian dollar 1,4855 1,5294Mexico – mexican peso 21,5565 22,7054USA – USD 1,1195 1,181Source: Banca d’Italia


52

Instead, payments from KOMCA/South Korea (from € 129,861 to € 89,149), MACP/Malaysia (from € 20,339 to € 8,205) and MCSC/China (from € 18,614 to € 12,109) decreased.

It is noted that the average Euro/local currency exchange rate in 2018 and 2019 had the following trend for the aforementioned countries:

• AUSTRALIA AND NEW ZEALAND

Total: +16,54%

Musical Performing rights: +14.01% - Cable: -49.13% - Mechanical reproduction rights: + 27.89%

The positive trend recorded in 2018 for APRA/AMCOS (Australia) (from € 290,396 to € 338,437) continues also for 2019, due to the increase in receipts for both Musical Performing Rights and Mechanical Reproduction Rights despite the worsening of the Australian $ exchange rate - EUR.

• AFRICA Total: - 24,49%

Musical Performing rights; -16.03% - Mechanical reproduction rights: - 100%

The decrease in the Musical Performing Rights and Mechanical Reproduction Rights area is due to the absence of remittances by ONDA/Algeria (for Musical Performing Rights from € 3,412 to 0, for Mechanical Reproduction Rights from € 2,200 to 0).


Country and local currencyAverage

exchange rate 2019


2018Cina - yuan 7,7355 7,8081South Korea – won south 1305,32 1299,07Japan – JPY 122,0058 130,3959Hong Kong – Hong Kong dollar 8,7715 9,2559Israel - shekel 3,9901 4,2423Turkey – new Turkish lira 1,5273 5,7077Source: Banca d’Italia


Country and local currency


2019


2018Australia – australia dollar 1,6109 1,5797Source: Banca d’Italia


53

The proceeds from SAMRO/ the Republic of South Africa remained substantially stable (from € 16,234 to € 16,497).

Total remittances from Africa continue to be very modest (from € 21,847 to € 16,497).

OTHER REPERTOIRES

OLAF Section repertoire: Literary works: - 6.8%

A slight reduction of 2019 revenues (€ 440,272) compared with 2018 (€472,387) can be noted.

Some concern may be raised by the substantial decrease of payments from Switzerland/PROLITTERIS (from € 99,406 to € 44,272), Australia/CA (from € 60,754 to € 52, 127) and The Netherlands/LIRA (from €61,391 to € 41,637). Belgium/REPROBEL did not make any payment in 2019 (from € 29,359 to € 0).

Increases are instead noticed from Norway/KOPINOR (from € 23,323 to € 26,521) and, even though of less importance, from Hungary/ARTISJUS, Canada/ACCESS and Spain/CEDRO.

A slight reduction regards also the payments from Denmark/COPYDAN WRITING. And France/CFC.

OLAF Section repertoire: Visual arts: - 38.57%

In 2018 the total of payments from abroad had a strong increase due to the payment from Germany/BILD-KUNST of € 1,442,305 for private copying relating to previous periods, as in the case described above relating to GEMA and the musical repertoire. Payments from BILD-KUNST for 2019 (amounting to € 248,338) are


54

back in line (with an increase) with those of 2017 (€ 209,038). This premise allows to better understand the 2019 total decrease in payments (€ 1,909,169) compared with the 2018 results (€ 3,108,102),

For 2019 there are interesting increases in payments from Austria/BILDRECHT (€ 137,071 to € 235,290), United Kingdom/DACS (from € 881,622 to € 946,079) and Japan/JASPAR (from € 6,563 to € 11,030); a slight increase can be seen as to payments from Norway/BONO and South Korea/SACK, even though the revenues in question are of modest level.

A decrease in payments from Belgium/SABAM (from € 41,777 to € 6,232), France/ADAGP (from € 286,926 to € 244,962), The Netherlands/PICTORIGHT (from € 91,157 to € 49,068), Switzerland/PROLITTERIS (from € 42,031 to € 12,005), Denmark/VISDA (from € 13,296 to € 7,577).

As to Spain/VEGAP, in 2018, it paid arrears relating to the years 2015 to 2017 equal to € 62,000. In 2019 the amount of € 28,183 was paid.

DOR/OPERA Section repertoire; + 3.54%

The general increase is due for 0.98% to the payments from abroad received by the DOR Section (from € 1,100,434 in 2018 to € 1,111,221).

In particular, an increase can be reported from Switzerland/SSA (from € 369,535 to € 437,905), Russia/RAO (from € 86,249 to € 137,975), Hungary/HOFRA (from € 4,435 to € 23,270), Brazil/ ABRAMUS (from € 9,628 to € 18,868), The Czech Republic/DILIA (from € 50,433 to € 52,072), Belgium/SABAM (from € 17,084 to € 19,692).

Although the revenues are not considerable, a growth of payments made by Lithuania/LATGA-A, Poland/ZAIKS, Portugal/SPA, Estonia/EAU, Slovenia/AAS and Croatia/HAA is reported, the latter being agencies occasionally asking for the granting of authorizations.

Decreases are reported as to payments from France/SACD (from € 359,120 to € 278,600), Spain/SGAE (from € 13,288 to € 7,212), Argentina/ARGENTORES (from € 7,816 to € 972), Greece/SOPE (from € 7,201 to € 4,757).

As to the Opera Section, the increase in payments received from abroad (from € 60,874 to € 91,175) corresponds to 49.78%, and is due to the remarkable increase in payments from Switzerland/SSA (from € 7,777 to € 38,679) and France/SACD (from € 16,570 to € 45,562).

A substantial decrease is reported for Argentina/ARGENTORES (from € 28,532 to € 0 in 2019).

Cinema Section repertoire: - 0.94%

The comparison between the payments received in 2019 and those received in 2018 shows a substantial increase as to Switzerland/SSA (from € 251,220 to € 313,451) and SUISSIMAGE (from € 268,524 to € 385,206), Austria/LITERAR-MECHANA (from €24,537 to €51,113), France/SCAM (from €55,607 to €148,317),The Netherlands/LIRA (from €36,884 to €97,337) and VEVAM (from €10,403 to €54,907), Spain/SGAE (from €142,532 to €170,318).


55

A positive trend regards also The Slovak Republic/ LITA, The Czech Republic/DILIA and Hungary/FILMJUS.

The substantial decrease in payments from Germany/BILD-KUNST (from €425,652 to €166,032) depends on the 2018 payment of the remuneration for private copying (directors) relating to previous periods, extraordinary payment that cannot be repeated, as explained in the sections of this report relating to the musical and visual arts repertoires.

Decreases can be noted in payments from Belgium/SABAM (from €160,100 to €54,823), France/SACD (from €963,251 to €763,909), Germany/VG WORT (from €215,034 to 103,930).

***

By exhibition order, the data relating to repertoires and economic categories (Annex to Art. 28, paragraph 2, point 2 letter b), information on the distribution of rights (Annex to Art. 28, paragraph 2, point 2 letter c) and on relations with other collective management organizations (Annex to Art. 28, paragraph 2, point 2 letter d) are illustrated on different chapters articulated by repertoire. Details of each repertoire’s balance of payments are illustrated in the Appendix (Annex 1).

It should be noted that the implementation of the legislation during the accounting period 2017 did not make it possible to display certain details referred to in point 7 letter c). This information will be available in future accounting periods.

In particular, for a better understanding of the data contained in the following tables dedicated to each repertoire, it is illustrated the logical diagram relating to the processing flows of the rights referred to at letter c).


56

***********

The present Transparency Report was drafted, in each significant aspect, according to the dispositions set out in Legislative Decree No. 35 of March 15, 2017.

The President

MUSIC REPERTOIRE

SIAE - Società Italiana degli Autori ed Editori Viale della Letteratura, 30 — 00144 Roma, Italia

www.siae.it


58

Collections 2019

Musical works performed in public Gross collections Allocated shares % B/A Deductions for

cultural promotion activities

Collections to allocate (A-B)

A B CRadio 12.716.024 1.462.342 11,5% 562.684 10.690.998 Television 74.347.869 8.550.004 11,5% 3.289.374 62.508.491 Satellite 28.639.796 3.293.576 11,5% 1.267.311 24.078.909 Music film 12.700.320 2.641.692 20,8% 502.931 9.555.697 Live music 145.796.564 29.109.111 20,0% 5.228.498 111.458.955 Mus. Mechanical instrument i. Discotheques 38.228.520 7.951.483 20,8% 1.513.852 28.763.185 Mus. Mechanical instrument ii. Other 84.232.634 18.080.862 21,5% 3.307.589 62.844.183 Online multimedia 29.455.026 2.947.792 10,0% 1.005.532 25.501.702 Total 426.116.753 74.036.862 17,4% 16.677.771 335.402.120

Musical works reproduced Gross collections Allocated shares % B/A Deductions for



A B CRadio 871.599 100.234 11,5% - 771.365 Television 9.652.847 1.110.077 11,5% - 8.542.770 Phonographic market i. National 8.275.816 770.783 9,3% - 7.505.033 Phonographic market ii. Centralized licenses 1.938.122 136.153 7,0% - 1.801.969 Videographic market i. National 564.090 101.532 18,0% - 462.558 Synchronisation rights - - 0,0% - - Private Copy i. Audio 24.433.325 733.000 3,0% - 23.700.325 Private Copy ii. Video 2.375.643 71.269 3,0% - 2.304.374 Online Multimedia 1.501.270 150.126 10,0% - 1.351.144 Mobile Multimedia 90.332 9.033 10,0% - 81.299 Total 49.703.044 3.182.207 6,4% - 46.520.837

COLLECTIONS FROM SISTER COMPANIES Gross collections Allocated shares % B/A Deductions for



A B CMusical works performed in public 20.080.740 602.421 3,0% 973.916 18.504.403 Musical works reproduced 4.082.363 122.470 3,0% 3.959.893 Total 24.163.103 724.891 3,0% 973.916 22.464.296

TOTAL 499.982.900 77.943.960 15,6% 17.651.687 404.387.253


59

Workflows (pursuant to Annex to Art. 28 letter c) point 1,3,4,5)

Financial Flow (pursuant to Annex to Art. 28 letter c) point 2)

Music - Performing and reproduction musical works

Category name Amount destined

to be allocated Collected and not

attributed Attributed Not distributed Distributed

Frequency of distribution*

Musical performance - current 428.435.895 205.400.879 223.035.017 19.033.097 204.001.919 SBroadcasting - current 320.689.916 197.682.623 123.007.293 4.779.230 118.228.063 S - APrivate copy - current 51.681.372 17.392.385 34.288.987 - 34.288.987 SAbroad - current 41.352.471 17.759.264 23.593.206 1.257.506 22.335.701 SMechanical reproduction rights - current 23.920.846 14.925.558 8.995.288 7.088.243 1.907.044 SMultimedia - current 57.077.276 30.121.253 26.956.023 8.882.104 18.073.919 S - TPrevious amount Music 57.718.798 - 57.718.798 21.207.175 36.511.623 S - ATotal 980.876.574 483.281.963 497.594.612 62.247.355 435.347.256

(*) A - Annual, S - Semiannual, F - Four-monthly, Q - Quarterly, B - Bimestrial, M - Monthly

Distributed Initial residue Total distributed Paid Final debt435.347.256 (59.713.584) 375.633.672 379.991.170 (4.357.497)


60

Detailing for collected and not attributed rights (pursuant to Annex to Art. 28 letter c) point 4)

Detailing for attributed and not distributed rights (pursuant to Annex to Art. 28 letter c) point 5)

Reasons for not attributed and not distributed rights (pursuant to Annex to Art. 28 letter c) point 6)

The rights were not allocated within nine months of collection due to lack of distribution requirements such as incomplete collections, failure to receive reports of use of works, legal disputes, etc..


Category name Previous accounting

periods 2017 2018 2019

Total amount collected and not attributed yet

Musical performance - current 9.339.806 196.061.072 205.400.879 Broadcasting - current 667.251 109.590.794 87.424.578 197.682.623 Mechanical reproduction rights - current 3.840.128 62.687 1.246.152 9.776.591 14.925.558 Private copy - current 628.150 16.764.235 17.392.385 Abroad - current 838.756 16.920.508 17.759.264 Multimedia - current 116.672 3.818.996 16.191.213 9.994.372 30.121.253 Total 3.956.800 4.548.935 137.834.870 336.941.357 483.281.962

Accounting periods in which the above listed rights were collected and not attributed


Category Name Previous accounting

periods 2017 2018 2019

Total amount attributed and not distributed yet

Musical performance 424.069 10.637.212 7.971.816 19.033.097 Broadcasting 237.702 3.597.818 943.711 4.779.231 Mechanical reproduction rights 5.035.329 672.096 930.887 449.932 7.088.243 Multimedia 1.529.347 355.458 3.896.028 3.101.271 8.882.104 Abroad - 238.939 314.687 703.880 1.257.506 Previous amount Music 21.207.175 - - - 21.207.175 Total 27.771.851 1.928.265 19.376.631 13.170.609 62.247.356

Accounting periods in which the above listed rights were attributed and not distributed


Category Name 2017 2018 Total

Musical performance - 9.339.806 9.339.806

Broadcasting 667.251 109.590.794 110.258.045

Mechanical reproduction rights 62.687 1.246.152 1.308.839

Private copy - 628.150 628.150

Abroad - 838.756 838.756

Multimedia 3.818.996 16.191.213 20.010.209

Total 4.548.935 137.834.870 142.383.805

Collected and not attributed rights



Musical performance 424.069 10.637.212 11.061.281

Broadcasting 237.702 3.597.818 3.835.520

Mechanical reproduction rights 672.096 930.887 1.602.983

Multimedia 355.458 3.896.028 4.251.486

Abroad 238.939 314.687 553.626

Total 1.928.265 19.376.631 21.304.896

Attributed and undistributed rights


61

The rights attributed were not distributed due to unidentified rights, irregular declarations of works, holders of unidentified or localized rights, irregularities in programs and reports, missing soundtracks, partial withdrawal of the mandate, disputes and other causes of suspension.

Amounts received and paid to other Collective Management Organizations [pursuant to Annex to Art. 28 letter d)]

Financial information regarding the incomes and the costs related to rights management [pursuant to Annex to Art. 28, point 2, letters a) and b)]

MusicCategory name Amounts received Management costs Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 20.080.740 602.421 973.916 76.121 41.734.456 9.237.999 2.196.550 Mechanical reproduction rights 4.082.363 122.471 - 38.249 1.844.118 126.145 - Other types of rights - - - - - - - Total 24.163.103 724.892 973.916 114.369 43.578.574 9.364.144 2.196.550

Collections from other Collective management Organizations Payments to other Collective management Organizations

Total category

Live & Background*

Sound films*

COLLECTIONS 243.827.306 12.700.320 140.134.101 29.455.026 20.080.740 446.197.493

OPERATING COSTS 76.533.347 4.526.842 14.784.096 2.732.009 1.823.497 100.399.791Staff 31.982.844 2.169.411 5.731.213 1.360.793 722.336 41.966.597Agents 21.732.842 896.192 2.833.993 0 0 25.463.027Management and functioning costs 17.960.475 1.082.482 5.206.231 1.106.478 865.612 26.221.278Amortizations and devaluations 4.898.806 380.922 1.036.581 269.767 238.982 6.825.058Taxes and fees (41.620) (2.165) (23.922) (5.029) (3.433) (76.169)

OTHER REVENUES AND INCOMES 14.736.974 609.440 3.102.131 336.207 130.174 18.914.926Revenues for ancillary services 14.736.974 609.440 3.102.131 336.207 130.174 18.914.926

NET OPERATING COSTS 61.796.373 3.917.402 11.681.965 2.395.802 1.693.323 81.484.865

COPYRIGHT COMMISSION 74.639.173

FINANCIAL REVENUES 5.280.840

PERFORMING RIGHTS AUTHORAL MANAGEMENT RESULT (1.564.852)

PERFORMING RIGHTS

Type of useMusical performance

Broadcasting Multimedia Abroad


62

The negative result is due to the contribution of the financial management which was not sufficient to cover the costs. In fact, due to the specificity that music has to generate financial income, the contribution of this management is incredibly significant.

Total category

Reproduction Broadcasting Multimedia Private Copy Abroad REPRODUCTION

RIGHTSCOLLECTIONS 10.778.028 10.524.446 1.591.602 26.808.968 4.082.363 53.785.407

OPERATING COSTS 2.930.444 786.732 147.625 109.156 370.712 4.344.669Staff 1.659.255 344.251 73.531 41.300 146.849 2.265.186Agents 50.321 16.584 0 0 0 66.905Management and functioning costs 998.801 355.652 59.790 50.875 175.977 1.641.095Amortizations and devaluations 223.914 72.042 14.576 16.981 48.584 376.097Taxes and fees (1.847) (1.797) (272) 0 (698) (4.614)

OTHER REVENUES AND INCOMES 545.631 111.428 18.167 47.194 26.465 748.885Revenues for ancillary services 545.631 111.428 18.167 47.194 26.465 748.885

NET OPERATING COSTS 2.384.813 675.304 129.458 61.962 344.247 3.595.784


FINANCIAL REVENUES 250.996

REPRODUCTION RIGHTS AUTHORAL MANAGEMENT RESULT (39.990)

AUTHORAL MANAGEMENT TOTAL RESULT (1.604.842)ANCILLARY SERVICES BALANCE 614.129MUSIC REPERTORY TOTAL RESULT (990.713)

Type of use

CINEMA REPERTOIRE


www.siae.it


64

Collections 2019

Workflows (pursuant to Annex to Art. 28 letter c) points 1,3,4,5)


Cinema - Audiovisual works Gross collections Allocated shares % B/A Collections to allocate (A-B)

A B CTelevision 25.222.388 2.774.463 11,0% 22.447.925 Satellite 12.954.756 1.425.023 11,0% 11.529.733 Private Copy 9.154.049 640.783 7,0% 8.513.266 Other (DVD) 447.394 82.880 18,5% 364.514 Other (Multimedia other utilizations) 3.931.759 393.176 10,0% 3.538.583 Total 51.710.346 5.316.325 10,3% 46.394.021

COLLECTIONS FROM SISTER COMPANIES Gross collections Allocated shares % B/A Collections to allocate (A-B)

A B CAudiovisual repertory 2.657.553 79.727 3,0% 2.577.826 Total 2.657.553 79.727 3,0% 2.577.826

TOTAL 54.367.899 5.396.052 9,9% 48.971.847

Cinema - Audiovisual works





Abroad 4.091.565 1.390.029 2.701.536 300.261 2.401.275 TBroadcasting 112.322.461 47.259.417 65.063.044 35.980.640 29.082.404 TMechanical reproduction rights 2.148.351 296.663 1.851.688 1.329.693 521.995 SPrivate Copy 32.980.211 10.703.907 22.276.304 10.835.661 11.440.643 AMultimedia 8.333.841 6.999.209 1.334.632 1.172.091 162.541 TPrevious amount Cinema 8.900.739 8.900.739 7.274.458 1.626.281 -Total 168.777.168 66.649.225 102.127.943 56.892.804 45.235.139


Distributed Initial residue Total distributed Paid Final debt45.235.139 3.944.702 49.179.841 34.541.001 14.638.840


65

Detailing of collected and not attributed rights (pursuant to Annex to Art. 28 letter c) point 4)

Detailing of attributed and not distributed rights (pursuant to Annex to Art. 28 letter c) point 5)


Category name Previous accounting periods 2017 2018 2019 Total amount collected and

not attributed yet Abroad 3.054 - 7.173 1.379.801 1.390.029 Broadcasting 2.445.489 9.552.107 8.196.732 27.065.089 47.259.417 Mechanical reproduction rights 147.201 19.772 1.809 127.882 296.663 Private Copy 904.559 543.572 3.987.384 5.268.391 10.703.907 Multimedia 1.016.737 592.912 1.850.977 3.538.583 6.999.209 Total 4.517.040 10.708.363 14.044.076 37.379.747 66.649.225



Category Name Previous accounting periods 2017 2018 2019 Total amount attributed and

not distributed yet Abroad 56.109 79.668 37.310 127.173 300.261 Broadcasting 20.668.427 2.894.253 10.119.246 2.298.714 35.980.640 Mechanical reproduction rights 1.079.674 97.840 70.518 81.661 1.329.693 Private Copy 5.672.657 2.248.308 2.229.556 685.139 10.835.661 Multimedia 696.973 278.644 196.474 - 1.172.091 Previous amount Cinema 7.274.458 7.274.458 Total 35.448.299 5.598.714 12.653.105 3.192.687 56.892.804



66

Reasons of not attributed and not distributed rights (pursuant to Annex to Art. 28 letter c) point 6)

The rights were not allocated within nine months of collection due to lack of distribution requirements such as incomplete collections, failure to receive reports of use of works, legal disputes, etc..

The rights attributed were not distributed due to works not registered, membership with other repertoires, works suspended for irregularities, etc..

Amounts received and payed to other Collective Management Organizations [pursuant to Annex to Art. 28 letter d)]

Cinema - Audiovisual worksCategory Name 2017 2018 Total

Abroad - 7.173 7.173 Broadcasting 9.552.108 8.196.732 17.748.840 Mechanical reproduction rights 19.772 1.809 21.581 Private Copy 543.572 3.987.384 4.530.956 Multimedia 592.912 1.850.977 2.443.889 Total 10.708.363 14.044.076 24.752.439


Cinema - Audiovisual worksCategory Name 2017 2018 Total

Abroad 79.668 37.310 116.978 Broadcasting 2.894.253 10.119.246 13.013.499 Mechanical reproduction rights 97.840 70.518 168.359 Private Copy 2.248.308 2.229.556 4.477.865 Multimedia 278.644 196.474 475.118 Total 5.598.714 12.653.105 18.251.819


Audiovisual worksCategory name Amounts received Management costs Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 2.225.838 66.775 - 2.159.063 5.062.555 580.061 - Mechanical reproduction rights 431.715 12.951 - 418.764 3.160.516 362.128 - Other types of rights - - - - - - - Total 2.657.553 79.727 - 2.577.827 8.223.071 942.190 -

Collections from other Collective Management Organizations Payments to other Collective Management Organizations


65

Financial information regarding the incomes and the costs related to rights management [pursuant to Annex to Art. 28 paragraph 2 letters a) and b)]

Total category

Broadcasting Reproduction Multimedia Abroad Private CopyAUDIOVISUAL

WORKSCOLLECTIONS 38.177.144 447.394 3.931.759 2.657.553 9.154.049 54.367.899

OPERATING COSTS 2.517.649 491.189 370.945 896.179 172.604 4.448.566Staff 1.090.503 323.488 188.311 504.503 83.356 2.190.161AgentsManagement and functioning costs 1.297.403 136.074 158.517 340.322 78.521 2.010.837Amortizations and devaluations 136.266 31.707 24.795 51.805 10.727 255.300Taxes and fees (6.523) (80) (678) (451) (7.732)

OTHER REVENUES AND INCOMES 1.041.549 53.460 86.379 76.175 116.568 1.374.131Revenues for ancillary services 1.041.549 53.460 86.379 76.175 116.568 1.374.131

NET OPERATING COSTS 1.476.100 437.729 284.566 820.004 56.036 3.074.435


FINANCIAL REVENUES 1.146.993

AUDIOVISUAL WORKS AUTHORIAL MANAGEMENT RESULT 3.468.610ANCILLARY SERVICES BALANCE (405.264)CINEMA REPERTORY TOTAL RESULT 3.063.346

Type of use

“DOR – LIRICA” REPERTOIRE (Theatre, Opera and Ballet and Radio and Television works)


www.siae.it


70

Collections 2019

Workflows (pursuant to Annex to Art. 28 letter c) points 1,3,4,5)

THEATRE, OPERA AND BALLET Gross collections Allocated shares % B/A Collections to allocate (A-B)

A B CTheatre 23.824.241 2.933.603 12,3% 20.890.638 Radio 4.070.561 468.114 11,5% 3.602.447 Television 10.504.804 1.208.052 11,5% 9.296.752 Satellite 141.790 16.306 11,5% 125.484 Public establishments 20.322.945 4.267.702 21,0% 16.055.243 Mechanical reproduction rights 70.591 11.727 16,6% 58.864 Private Copy 1.787.855 53.635 3,0% 1.734.220 Rental and critical editions 1.015.141 64.413 6,3% 950.728 Total 61.737.928 9.023.552 14,6% 52.714.376

COLLECTIONS FROM SISTER SOCIETIES Gross collections Allocated shares % B/A Collections to allocate (A-B)

A B CTheatre repertoire 1.111.221 33.337 3,0% 1.077.884 Opera and Ballet repertoire 91.176 2.735 3,0% 88.441 Total 1.202.397 36.072 3,0% 1.166.325

TOTAL 62.940.325 9.059.624 14,4% 53.880.701

DOR - Theatre works





Theatre performances 27.420.109 4.455.563 22.964.546 2.516.347 20.448.199 TBroadcasting 52.856.869 23.057.084 29.799.785 525.218 29.274.567 M - T - AMechanical reproduction rights 96.075 18.998 77.078 26.033 51.045 TPrivate Copy 2.563.150 1.258.104 1.305.046 5.047 1.299.999 AAbroad 1.625.324 327.939 1.297.385 51.775 1.245.610 TMultimedia 30.983 30.983 - - - TPrevious amount Dor 2.949.002 2.949.002 2.385.007 563.995 - Total 87.541.512 29.148.671 58.392.841 5.509.427 52.883.415

Opera - Opera and Ballet





Opera Performaces 4.831.772 1.109.335 3.722.437 980.796 2.741.641 QBroadcasting 4.622.765 2.542.027 2.080.738 - 2.080.738 Q - AAbroad 158.095 110.743 47.353 - 47.353 QMechanical reproduction rights 32.313 25.448 6.865 - 6.865 APrivate Copy 2.017.560 681.151 1.336.410 - 1.336.410 QRental and critical editions 1.186.462 292.911 893.551 - 893.551 QPrevious amount Opera 1.286.159 1.286.159 1.191.449 94.710 - Total 14.135.126 4.761.614 9.373.512 2.172.245 7.201.267

Total 101.676.638 33.910.285 67.766.353 7.681.671 60.084.682



71


Repertory Distributed Initial residue Total distributed Paid Final debtDor 52.883.415 3.421.648 56.305.063 52.199.199 4.105.864Opera 7.201.267 358.977 7.560.245 6.985.523 574.721

Total Dor-Opera 60.084.682 3.780.625 63.865.307 59.184.723 4.680.585


72

Detailing of collected and not attributed rights (pursuant to Annex to Art. 28 letter c) point 4)


DOR - Theatre works


not attributed yet Theatre performances - - - 4.455.563 4.455.563 Broadcasting 671.557 1.498.917 4.201.074 16.685.535 23.057.084 Mechanical reproduction rights - - - 18.998 18.998 Private Copy 201.640 212.153 341.197 503.114 1.258.104 Abroad - 999 5.788 321.151 327.939 Multimedia 3.765 2.153 25.065 - 30.983 Total 876.963 1.714.222 4.573.124 21.984.362 29.148.671



not attributed yet Opera performances 1.109.335 1.109.335 Broadcasting 299.409 54.614 72.282 2.115.723 2.542.027 Abroad 110.743 110.743 Mechanical reproduction rights 25.448 25.448 Private Copy 592.808 88.343 - 681.151 Rental and critical editions 292.911 292.911 Total 299.409 647.422 160.625 3.654.159 4.761.614

Total 1.176.371 2.361.643 4.733.749 25.638.521 33.910.285



DOR - Theatre works


periods 2017 2018 2019


Theatre performances 1.432.454 361.042 352.473 370.378 2.516.347 Broadcasting 52.158 4.937 382.589 85.534 525.218 Mechanical reproduction rights 20.072 1.736 3.251 973 26.033 Private Copy - - - 5.047 5.047 Abroad 43.919 5.922 1.934 - 51.775 Previous amount Dor 2.385.007 2.385.007 Total 3.933.610 373.637 740.248 461.932 5.509.427



periods 2017 2018 2019


Opera performances 444.180 212.193 151.950 172.473 980.796 Previous amount Opera 1.191.449 1.191.449 Total 1.635.629 212.193 151.950 172.473 2.172.245

Total 5.569.239 585.829 892.198 634.406 7.681.671




73


The rights were not allocated within nine months of collection due to lack of distribution requirements such as incomplete collections (advances to be paid) or missing reports, legal disputes. These circumstances are physiological especially for the "broadcasting", "private copying" and "multimedia" typology.

The rights allocated were not distributed due to lack or irregularity of the works, for non-identifiable work used, for registration in another section, withdrawal of the mandate, work under public domain, unidentified author, etc.

Amounts received and payed to other Collective Management Organizations (pursuant to Annex to Art. 28 letter d)

DOR - Theatre works


Broadcasting 1.498.917 4.201.074 5.699.992

Private Copy 212.153 341.197 553.349

Abroad 999 5.788 6.788

Multimedia 2.153 25.065 27.218

Total 1.714.222 4.573.124 6.287.346


OPERA- Opera and Ballet works


Broadcasting 54.614 72.282 126.896

Private Copy 592.808 88.343 681.151

Total 647.422 160.625 808.047

Total 2.361.643 4.733.749 7.095.393


DOR - Theatre works


Theatre performances 361.042 352.473 713.515

Broadcasting 4.937 382.589 387.526

Mechanical reproduction rights 1.736 3.251 4.987

Abroad 5.922 1.934 7.856

Total 373.637 740.248 1.113.884


OPERA - Opera and Ballet works


Opera and Ballet performances 212.193 151.950 364.143

Total 212.193 151.950 364.143

Total 585.829 892.198 1.478.027


DOR*Category name Amounts received Management costs Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 946.781 28.403 - 918.377 348.690 76.196 -

Mechanical reproduction rights 50.043 1.501 - 48.542 873 59 -

Other types of rights - - - - - - -

Total 996.824 29.905 - 966.919 349.563 76.255 -

*The total amount of the sums received does not encompass the collections from the direct management foreign users (equal to 114.397 euros)


OPERACategory name Amounts received Management costs Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 91.176 2.735 - 88.441 255.231 27.832 -

Mechanical reproduction rights - - - - - - -

Other types of rights - - - - - - -

Total 91.176 2.735 - 88.441 255.231 27.832 -



74

Financial information regarding the incomes and the costs related to the rights management [pursuant to Annex to Art. 28, paragraph 2 letters a) and b)]

Total categoryPerformance Broadcasting Reproduction Abroad Private Copy OPERA AND BALLET WORKS

COLLECTIONS 2.608.959 1.438.789 9.439 91.176 963.927 5.112.290

OPERATING COSTS 1.246.716 298.094 110.046 67.612 22.145 1.744.613Staff 568.291 194.146 74.620 40.505 14.104 891.666Agents 282.012 282.012Management and functioning costs 324.126 82.676 27.457 22.670 6.454 463.383Amortizations and devaluations 73.217 21.378 7.969 4.450 1.587 108.601Taxes and fees (930) (106) (13) (1.049)

OTHER REVENUES AND INCOMES 307.002 36.275 12.502 6.815 4.192 366.786Revenues for ancillary services 307.002 36.275 12.502 6.815 4.192 366.786

NET OPERATING COSTS 939.714 261.819 97.544 60.797 17.953 1.377.827

COPYRIGHT COMMISSION 891.321


OPERA AND BALLET WORKS AUTHORIAL MANAGEMENT RESULT (414.872)

Type of use

Total categoryPerformace Broadcasting Reproduction Multimedia Abroad Private Copy THEATRE WORKS

COLLECTIONS 21.215.282 33.601.311 61.152 0 1.111.221 823.928 56.812.894

OPERATING COSTS 10.340.144 1.270.511 124.163 18.232 702.608 25.441 12.481.099Staff 4.668.773 676.407 82.456 12.268 411.961 16.394 5.868.259Agents 2.691.262 2.691.262Management and functioning costs 2.390.451 513.464 32.070 4.493 241.129 7.050 3.188.657Amortizations and devaluations 596.260 83.044 9.650 1.471 49.704 1.997 742.126Taxes and fees (6.602) (2.404) (13) 0 (186) 0 (9.205)

OTHER REVENUES AND INCOMES 2.495.005 191.615 17.357 2.494 86.437 4.555 2.797.463Revenues for ancillary services 2.495.005 191.615 17.357 2.494 86.437 4.555 2.797.463

NET OPERATING COSTS 7.845.139 1.078.896 106.806 15.738 616.171 20.886 9.683.636



THEATRE WORKS AUTHORIAL MANAGEMENT RESULT (1.114.541)

AUTHORAL MANAGEMENT TOTAL RESULT (1.529.413)ANCILLARY SERVICES BALANCE* 14.619DOR-OPERA REPERTOIRE TOTAL RESULT (1.514.794)*The ancillary services balance encompasses Rental and Critical editions (whose 2019 collections amount to 1.015.141 euros ).

Type of use

“OLAF” REPERTOIRE (works of Visual Arts and Literature)

“OLAF” REPE


www.siae.it


76

Collections 2019

OLAF - Literary works Gross collections Allocated shares % B/A Collections to allocate (A-B)

A B CPublic recitation rights 1.421.572 232.624 16,4% 1.188.948 Radio 175.667 20.202 11,5% 155.465 Television 13.573 1.561 11,5% 12.012 Satellite 18.709 2.152 11,5% 16.557 Mechanical reproduction rights 77.295 9.255 12,0% 68.040 Reprography 2.640.365 528.073 20,0% 2.112.292 Private copy 1.055.285 27.912 2,6% 1.027.373 Public lending right 1.047.146 78.536 7,5% 968.610 Publishing rights 2.724 82 3,0% 2.642 Online multimedia 1.764 176 10,0% 1.588 Total 6.454.100 900.573 14,0% 5.553.528

OLAF - Visual Art Gross collections Allocated shares % B/A Collections to allocate (A-B)

A B CTelevision 80.433 9.250 11,5% 71.183 Satellite 139.682 16.063 11,5% 123.619 Reproduction rights 1.063.938 132.992 12,5% 930.946 Resale right 7.330.879 1.246.250 17,0% 6.084.629 Private copy 874.142 29.970 3,4% 844.172 Offline multimedia 110.700 11.070 10,0% 99.630 Online multimedia 50.949 9.171 18,0% 41.778 Total 9.650.723 1.454.766 15,1% 8.195.956

COLLECTIONS FROM SISTER COMPANIES Gross collections Allocated shares % B/A Collections to allocate (A-B)

A B CLiterary works repertory 440.272 13.208 3,0% 427.064 Visual art repertory 1.909.169 57.276 3,0% 1.851.893 Total 2.349.441 70.484 3,0% 2.278.957

TOTAL 18.454.264 2.425.823 13,1% 16.028.441


77

Workflows (pursuant to Annex to Art. 28 letter c) points 1, 3, 4 and 5)


OLAF - Literary works





Reading and acting 3.677.196 2.294.813 1.382.384 481.421 900.963 SBroadcasting 331.022 202.185 128.837 1.203 127.634 SMechanical reproduction rights 177.787 40.953 136.834 39.721 97.113 SPrivate copy 3.518.230 2.237.782 1.280.448 - 1.280.448 SAbroad 1.140.365 408.191 732.173 297.288 434.885 SMultimedia 2.806 363 2.443 1.218 1.225 SRental right 2.861.369 1.089.682 1.771.687 - 1.771.687 SReprography 12.725.933 2.112.292 10.613.641 9.281.430 1.332.211 SPublishing rights 2.642 - 2.642 - 2.642 SPrevious amount OLAF 4.105.183 4.105.183 1.684.767 2.420.416 - Total 28.542.533 8.386.261 20.156.272 11.787.048 8.369.224

OLAF - Visual art





Mechanical reproduction rights 1.399.871 476.268 923.603 20.588 903.015 SPrivate copy 2.961.001 1.913.576 1.047.425 - 1.047.425 SAbroad 5.103.964 635.778 4.468.186 2.068.603 2.399.583 SMultimedia 135.175 29.023 106.151 4.312 101.839 SResale right 11.618.218 2.897.725 8.720.493 2.864.875 5.855.618 SBroadcasting 670.451 376.935 293.516 1.084 292.432 STotal 21.888.680 6.329.305 15.559.375 4.959.463 10.599.912

Total 50.431.213 14.715.566 35.715.647 16.746.511 18.969.136


Distributed Initial residue Total distributed Paid Final debt18.969.136 2.700.479 21.669.615 18.104.336 3.565.279


78

Detailing for collected and not attributed rights (pursuant to Annex to Art. 28 letter c) point 4)



Category name Previous Accounting

Periods 2017 2018 2019


Reading and acting 436.541 161.746 731.660 964.866 2.294.813 Broadcasting 5.058 397 47.991 148.739 202.185 Mechanical reproduction rights - - - 40.953 40.953 Private copy 391.283 618.927 545.214 682.357 2.237.782 Multimedia - - - 363 363 Rental right 38.711 24.215 58.145 968.610 1.089.682 Reprography - - - 2.112.292 2.112.292 Total 871.593 805.285 1.383.011 5.326.372 8.386.261

OLAF - Visual art

Category name Previous Accounting

Periods 2017 2018 2019


Mechanical reproduction rights - - - 476.268 476.268 Private copy 407.426 524.951 432.622 548.577 1.913.576 Abroad - - - 635.778 635.778 Multimedia - - - 29.023 29.023 Resale right - - - 2.897.725 2.897.725 Broadcasting 72.911 46.869 73.517 183.638 376.935 Total 480.338 571.820 506.139 4.771.008 6.329.305

Total 1.351.930 1.377.105 1.889.150 10.097.380 14.715.566



Previous accounting periods 2017 2018 2019 Total amount attributed and

not distributed yet 235.662 47.191 72.953 125.615 481.421

1.203 - - - 1.203 33.975 1.655 3.947 143 39.721

230.745 32.631 32.225 1.687 297.288 1.216 1 2 - 1.218

7.136.750 836.300 1.308.380 - 9.281.430 1.684.767 1.684.767 9.324.318 917.777 1.417.506 127.446 11.787.048

Previous accounting periods 2017 2018 2019 Total amount attributed and

not distributed yet 17.829 2.125 634 - 20.588

- - - - - 756.612 26.302 1.269.310 16.380 2.068.603

- 243 4.069 - 4.312 1.788.824 344.064 378.192 353.795 2.864.875

599 485 - - 1.084 2.563.863 373.219 1.652.205 370.176 4.959.463

11.888.182 1.290.996 3.069.711 497.622 16.746.511




79


The rights were not allocated within nine months of collection due to lack of allocation requirements such as missing reports, lack of indication from the Ministry of Cultural Heritage and Activities etc.

The allocated rights were not distributed due to lack of or irregularity of the work, for the non-identifiability of the work used, registration with another section, withdrawal of the mandate, work under public domain, not identified author etc..


Category name 2017 2018 TotalBroadcasting 397 47.991 48.388 Rental right 24.215 58.145 82.360 Private copy 618.927 545.214 1.164.142 Reading and acting 161.746 731.660 893.406 Total 805.285 1.383.011 2.188.296

OLAF - Visual art

Category name 2017 2018 TotalPrivate copy 524.951 432.622 957.573 Broadcasting 46.869 73.517 120.386 Total 571.820 506.139 1.077.959

Total 1.377.105 1.889.150 3.266.255




Category name 2017 2018 TotalMechanical reproduction rights 1.655 3.947 5.602 Multimedia 1 2 2 Reading and acting 47.191 72.953 120.143 Reprography 836.300 1.308.380 2.144.680 Abroad 32.631 32.225 64.856 Total 917.777 1.417.506 2.335.283

OLAF - Visual art

Category name 2017 2018 TotalMechanical reproduction rights 2.125 634 2.759 Abroad 26.302 1.269.310 1.295.612 Multimedia 243 4.069 4.312 Resale right 344.064 378.192 722.256 Broadcasting 485 485 Total 373.219 1.652.205 2.025.424

Total 1.290.996 3.069.711 4.360.707




80

Amounts received and payed to other Collective Management Organizations [pursuant to Annex to Art. 28 letter d)]

Financial information regarding the incomes and the costs related to rights management [pursuant to Annex to Art. 28, paragraph 2, letters a) and b)]

Literary works*Category name Amounts received Management costs Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical reproduction rights - Other types of rights 448.688 13.461 - 435.227 126.453 44.807 - Total 448.688 13.461 - 435.227 126.453 44.807 -

Visual art*Category name Amounts received Management costs Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical reproduction rights - Other types of rights 1.900.753 57.023 - 1.843.730 1.606.700 559.470 - Total 1.900.753 57.023 - 1.843.730 1.606.700 559.470 -



Total category

Acting Rental Reprography Broadcasting Reproduction Multimedia Abroad Private copyLITERARY

WORKSCOLLECTIONS 1.421.572 1.047.146 2.640.365 207.949 77.295 1.764 440.272 1.055.285 6.891.648

OPERATING COSTS 560.149 31.783 1.013.353 146.457 139.480 233 35.019 12.874 1.939.348Staff 271.138 6.958 390.354 96.174 95.131 131 8.980 6.420 875.286Agents 123.881 36.523 160.404Management and functioning costs 141.798 24.101 553.356 42.178 37.037 90 25.221 5.837 829.618Amortizations and devaluations 23.584 897 33.572 8.144 7.325 12 893 617 75.044Taxes and fees (252) (173) (452) (39) (13) (75) (1.004)

OTHER REVENUES AND INCOMES 296.504 5.048 353.332 26.780 13.765 209 12.511 28.632 736.781Revenues for ancillary services 296.504 5.048 353.332 26.780 13.765 209 12.511 28.632 736.781

NET OPERATING COSTS 263.645 26.735 660.021 119.677 125.715 24 22.508 (15.758) 1.202.567

COPYRIGHT COMMISSION 917.492


LITERARY WORKS AUTHORAL MANAGEMENT RESULT (164.448)

Type of use


81

Total categoryBroadcasting Reproduction Multimedia Abroad Resale right Private copy VISUAL ART

COLLECTIONS 220.115 1.063.938 161.649 1.909.169 7.330.879 874.142 11.559.892

OPERATING COSTS 155.026 663.638 21.263 151.857 2.101.769 10.664 3.104.218Staff 101.801 382.586 11.989 38.942 1.234.788 5.318 1.775.425Agents 141.362 141.362Management and functioning costs 44.646 172.757 8.210 109.367 611.186 4.835 951.001Amortizations and devaluations 8.620 108.480 1.090 3.872 115.681 511 238.255Taxes and fees (41) (186) (26) (324) (1.249) (1.826)

OTHER REVENUES AND INCOMES 28.346 139.539 19.143 54.250 141.373 23.717 406.368Revenues for ancillary services 28.346 139.539 19.143 54.250 141.373 23.717 406.368

NET OPERATING COSTS 126.679 524.099 2.120 97.607 1.960.396 (13.052) 2.697.849



VISUAL ART AUTHORAL MANAGEMENT RESULT (1.047.286)

AUTHORAL MANAGEMENT TOTAL RESULT (1.211.734)ANCILLARY SERVICES BALANCE* 223.283OLAF REPERTORY TOTAL RESULT (988.451)*The ancillary services balance encompasses the Publishing Rights (whose 2019 collections amount to 2.724 euros)

Type of use

ANNEX 1: Relations with other Collective Management Organizations

Directive 2014/26/EU Article 22

Legislative Decree No. 35/2017, Article 28


www.siae.it


84

Music

ABRAMUS - BRAZILCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 111.535 24.688 5.870Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - ABRAMUS - BRAZIL 0 0 0 0 111.535 24.688 5.870

ACAM - COSTA RICACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 6.116 183 297 0 397 88 21Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - ACAM - COSTA RICA 6.116 183 297 0 397 88 21

ACDAM - CUBACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 21.590 4.779 1.136Mechanical reproduction rights 0 0 0 0 3.630 248 0Other types of rightsTotal - ACDAM - CUBA 0 0 0 0 25.220 5.027 1.136

ACEMLA - PUERTO RICOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 628 139 33Mechanical reproduction rights 0 0 0 0 22 2 0Other types of rightsTotal - ACEMLA - PUERTO RICO 0 0 0 0 650 141 33

ACUM - ISRAELCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 133.538 4.006 6.477 0 0 0 0Mechanical reproduction rights 9.139 274 0 0 0 0 0Other types of rightsTotal - ACUM - ISRAEL 142.677 4.280 6.477 0 0 0 0

AGADU - URUGUAYCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 8.329 250 404 0 6.254 1.384 329Mechanical reproduction rights 75 2 0 0 222 15 0Other types of rightsTotal - AGADU - URUGUAY 8.403 252 404 0 6.476 1.399 329

ALTRE AGENZIE- THE UNITED STATESCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 4.665 140 0 0 0 0 0Other types of rights 0Total - ALTRE AGENZIE- THE UNITED STATES 4.665 140 0 0 0 0 0

AKKA-LAA - LATVIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 24.837 745 1.205 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - AKKA-LAA - LATVIA 24.837 745 1.205 0 0 0 0

AKM - AUSTRIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 780.343 23.410 37.847 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - AKM - AUSTRIA 780.343 23.410 37.847 0 0 0 0

AMAR - BRASILCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 13.626 3.016 717Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - AMAR - BRASIL 0 0 0 0 13.626 3.016 717


Collections from other Collective Management Organizations









Payments to other Collective Management Organizations










85

AMCOS - AUSTRALIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 80.353 2.411 0 0 0 0 0Other types of rightsTotal - AMCOS - AUSTRALIA 80.353 2.411 0 0 0 0 0

APA - PARAGUAYCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 2.862 86 139 0 895 198 47Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - APA - PARAGUAY 2.862 86 139 0 895 198 47

APDAYC - PERUCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 44.299 1.329 2.149 0 32.564 7.208 1.714Mechanical reproduction rights 676 20 0 0 1.724 118 0Other types of rightsTotal - APDAYC - PERU 44.976 1.349 2.149 0 34.288 7.326 1.714

APRA - AUSTRALIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 258.084 7.743 12.517 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - APRA - AUSTRALIA 258.084 7.743 12.517 0 0 0 0

ARMAUTHOR NGO - ARMENIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 177 5 9 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - ARMAUTHOR NGO - ARMENIA 177 5 9 0 0 0 0

ARTISJUS - HUNGARYCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 273.049 8.191 13.243 0 0 0 0Mechanical reproduction rights 25.429 763 0 0 0 0 0Other types of rightsTotal - ARTISJUS - HUNGARY 298.478 8.954 13.243 0 0 0 0

ASCAP - THE UNITED STATESCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 1.138.970 34.169 55.240 0 15.160.404 3.355.784 797.916Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - ASCAP - THE UNITED STATES 1.138.970 34.169 55.240 0 15.160.404 3.355.784 797.916

AUME - AUSTRIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 98.006 2.940 0 0 0 0 0Other types of rightsTotal - AUME - AUSTRIA 98.006 2.940 0 0 0 0 0

AUTODIA - GREECECategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 3.895 117 189 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - AUTODIA - GREECE 3.895 117 189 0 0 0 0

BBDA - BURKINA FASOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 143 32 8Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - BBDA - BURKINA FASO 0 0 0 0 143 32 8

BMI - THE UNITED STATESCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 907.594 27.228 44.018 23.399 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rights 0Total - BMI - THE UNITED STATES 907.594 27.228 44.018 23.399 0 0 0























86

BUMA - NETHERLANDSCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 860.669 25.820 41.742 0 679.876 150.492 35.783Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - BUMA - NETHERLANDS 860.669 25.820 41.742 0 679.876 150.492 35.783

CASH - HONG KONGCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 29.395 882 1.426 0 0 0 0Mechanical reproduction rights 2.940 88 0 0 0 0 0Other types of rightsTotal - CASH - HONG KONG 32.335 970 1.426 0 0 0 0

COMPASS - SINGAPORECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 14.831 445 719 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - COMPASS - SINGAPORE 14.831 445 719 0 0 0 0

EAU - ESTONIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 28.193 846 1.367 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - EAU - ESTONIA 28.193 846 1.367 0 0 0 0

EMI-EUROPE (SOLAR) - THE UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 51.997 11.510 2.737Mechanical reproduction rights 0 0 0 0 57.619 3.941 0Other types of rightsTotal - EMI-EUROPE (SOLAR) - THE UNITED KINGDOM 0 0 0 0 109.615 15.451 2.737

FILSCAP - PHILIPPINESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 3.637 109 176 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - FILSCAP - PHILIPPINES 3.637 109 176 0 0 0 0

GCA - GEORGIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 7.544 226 366 618 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rights 0Total - GCA - GEORGIA 7.544 226 366 618 0 0 0

GEMA - GERMANYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 2.702.298 81.068 131.062 12.365 3.543.044 784.259 186.476Mechanical reproduction rights 841.397 25.242 0 36.198 458.699 31.377 0Other types of rightsTotal - GEMA - GERMANY 3.543.695 106.310 131.062 48.563 4.001.743 815.636 186.476

HDS-ZAMP - CROATIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 86.459 2.594 4.193 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - HDS-ZAMP - CROATIA 86.459 2.594 4.193 0 0 0

HFA - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 277.789 8.334 0 0 5.256 360 0Other types of rightsTotal - HFA - THE UNITED STATES 277.789 8.334 0 0 5.256 360 0

IMRO - IRELANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 103.343 3.100 5.012 0 232.719 51.513 12.248Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - IMRO - IRELAND 103.343 3.100 5.012 0 232.719 51.513 12.248
























87

JASRAC - JAPANCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 1.806.891 54.207 87.634 0 0 0 0Mechanical reproduction rights 372.793 11.184 0 0 0 0 0Other types of rightsTotal - JASRAC - JAPAN 2.179.683 65.390 87.634 0 0 0 0

KODA - DENMARKCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 304.180 9.125 14.753 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - KODA - DENMARK 304.180 9.125 14.753 0 0 0 0

KOMCA - KOREACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 89.149 2.674 4.324 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - KOMCA - KOREA 89.149 2.674 4.324 0 0 0 0

LATGA - LITHUANIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 44.116 1.323 2.140 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - LATGA - LITHUANIA 44.116 1.323 2.140 0 0 0 0

MACA - MACAUCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 6.228 187 302 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - MACA - MACAU 6.228 187 302 0 0 0 0

MACP - MALAYSIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 8.205 246 398 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - MACP - MALAYSIA 8.205 246 398 0 0 0 0

MCPS - THE UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 238.751 7.163 0 0 0 0 0Other types of rightsTotal - MCPS - THE UNITED KINGDOM 238.751 7.163 0 0 0 0 0

MCSC - CHINACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 12.110 363 587 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - MCSC - CHINA 12.110 363 587 0 0 0 0

MCT - THAILANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 3.282 98 159 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - MCT - THAILAND 3.282 98 159 0 0 0 0

MESAM - TURKEYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 21.808 654 1.058 0 0 0 0Mechanical reproduction rights 1.026 31 0 0 0 0 0Other types of rightsTotal - MESAM - TURKEY 22.834 685 1.058 0 0 0 0

MUSICAUTOR - BULGARIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 1.725 52 84 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - MUSICAUTOR - BULGARIA 1.725 52 84 0 0 0 0























88

MÜST - TAIWAN, CHINESE TAIPEICategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 19.839 595 962 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - MÜST - TAIWAN, CHINESE TAIPEI 19.839 595 962 0 0 0 0

NCB - DENMARKCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 35.861 1.076 0 0 0 0 0Other types of rightsTotal - NCB - DENMARK 35.861 1.076 0 0 0 0 0

NCIP - BELARUSCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 15.547 466 754 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - NCIP - BELARUS 15.547 466 754 0 0 0 0

NMP - DENMARKCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 11.866 356 0 0 0 0 0Other types of rightsTotal - NMP - DENMARK 11.866 356 0 0 0 0 0

OSA - CZECH REPUBLICCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 175.699 5.271 8.521 0 21.471 4.753 1.130Mechanical reproduction rights 41.868 1.256 0 0 2.908 199 0Other types of rightsTotal - OSA - CZECH REPUBLIC 217.567 6.527 8.521 0 24.379 4.952 1.130

PRS - THE UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 1.176.493 35.295 57.060 0 13.472.033 2.982.060 709.054Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - PRS - THE UNITED KINGDOM 1.176.493 35.295 57.060 0 13.472.033 2.982.060 709.054

RAO - THE RUSSIAN FEDERATIONCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 48.894 1.467 2.371 0 0 0 0Mechanical reproduction rights 599 18 0 0 0 0 0Other types of rightsTotal - RAO - THE RUSSIAN FEDERATION 49.493 1.485 2.371 0 0 0 0

SABAM - BELGIUMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 516.542 15.496 25.052 0 219.927 48.681 11.575Mechanical reproduction rights 90.144 2.704 0 0 32.774 2.242 0Other types of rightsTotal - SABAM - BELGIUM 606.687 18.201 25.052 252.701 50.923 11.575

SACD - FRANCECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 17.569 527 852 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - SACD - FRANCE 17.569 527 852 0 0 0 0

SACEM - FRANCECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 3.048.375 91.451 147.846 0 4.374.426 968.287 230.233Mechanical reproduction rights 1.192.168 35.765 0 0 623.567 42.654 0Other types of rightsTotal - SACEM - FRANCE 4.240.543 127.216 147.846 4.997.993 1.010.942 230.233

SACM - MEXICOCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 192.634 5.779 9.343 0 108.045 23.916 5.687Mechanical reproduction rights 0 0 0 0 6.152 421 0Other types of rightsTotal - SACM - MEXICO 192.634 5.779 9.343 0 114.196 24.337 5.687
























89

SADAIC - ARGENTINACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 195.735 5.872 9.493 0 329.061 72.838 17.319Mechanical reproduction rights 10.296 309 0 0 31.418 2.149 0Other types of rightsTotal - SADAIC - ARGENTINA 206.031 6.181 9.493 0 360.479 74.987 17.319

SAMRO - SOUTH AFRICACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 16.497 495 800 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - SAMRO - SOUTH AFRICA 16.497 495 800 0 0 0 0

SAYCE - ECUADORCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 14.594 438 708 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - SAYCE - ECUADOR 14.594 438 708 0 0 0 0

SAYCO - COLUMBIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 26.352 791 1.278 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - SAYCO - COLUMBIA 26.352 791 1.278 0 0 0 0

SAZAS - SLOVENIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 63.501 1.905 3.080 0 0 0 0Mechanical reproduction rights 579 17 0 0 0 0Other types of rightsTotal - SAZAS - SLOVENIA 64.080 1.922 3.080 0 0 0 0

SCD - CHILECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 55.040 1.651 2.669 0 11.905 2.635 627Mechanical reproduction rights 936 28 0 0 2.007 137 0Other types of rightsTotal - SCD - CHILE 55.976 1.679 2.669 0 13.912 2.773 627

SESAC - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 9.533 286 462 497 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rights 0Total - SESAC - THE UNITED STATES 9.533 286 462 497 0 0 0

SGAE(MESSICO) - MEXICOCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 16.946 508 0 0 0 0 0Other types of rightsTotal - SGAE(MESSICO) - MEXICO 16.946 508 0 0 0 0 0

SGAE - SPAINCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 799.173 23.975 38.760 0 1.927.416 426.637 101.443Mechanical reproduction rights 103.674 3.110 0 0 217.516 14.879 0Other types of rightsTotal - SGAE - SPAIN 902.847 27.085 38.760 0 2.144.932 441.516 101.443

SOCAN - CANADACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 246.179 7.385 11.940 0 0 0 0Mechanical reproduction rights 34.754 1.043 0 0 0 0 0Other types of rightsTotal - SOCAN - CANADA 280.933 8.428 11.940 0 0 0 0

SOCINPRO - BRAZILCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 9.149 2.025 482Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - SOCINPRO - BRAZIL 0 0 0 0 9.149 2.025 482
























90

SODRAC - CANADACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 12.567 377 0 0 0 0 0Other types of rightsTotal - SODRAC - CANADA 12.567 377 0 0 0 0 0

SOKOJ - SERBIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 24.008 720 1.164 5.811 0 0 0Mechanical reproduction rights 8 0 0 0 0 0 0Other types of rights 0Total - SOKOJ - SERBIA 24.016 720 1.164 5.811 0 0 0

SONY/ATV - THEUNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 122.941 27.213 6.471Mechanical reproduction rights 0 0 0 0 111.931 7.657 0Other types of rightsTotal - SONY/ATV - THE UNITED KINGDOM 0 0 0 0 234.872 34.870 6.471

SOZA - SLOVAKIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 44.893 1.347 2.177 0 0 0 0Mechanical reproduction rights 1.507 45 0 0 0 0 0Other types of rightsTotal - SOZA - SLOVAKIA 46.400 1.392 2.177 0 0 0 0

SPA - PORTUGALCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 118.005 3.540 5.723 0 0 0 0Mechanical reproduction rights 27.249 817 0 0 0 0 0Other types of rightsTotal - SPA - PORTUGAL 145.254 4.358 5.723 0 0 0 0

SPAC - PANAMACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 5.566 167 270 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - SPAC - PANAMA 5.566 167 270 0 0 0 0

SSA - SWITZERLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 580 17 28 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - SSA - SWITZERLAND 580 17 28 0 0 0 0

STEF - ICELANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 3.541 106 172 0 17.531 3.880 923Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - STEF - ICELAND 3.541 106 172 0 17.531 3.880 923

STEMRA - NETHERLANDSCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 132.672 3.980 0 0 64.076 4.383 0Other types of rightsTotal - STEMRA - NETHERLANDS 132.672 3.980 0 0 64.076 4.383 0

STIM - SWEDENCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 269.727 8.092 13.082 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - STIM - SWEDEN 269.727 8.092 13.082 0 0 0 0

SUISA - SWITZERLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 2.166.063 64.982 105.054 0 604.363 133.777 31.809Mechanical reproduction rights 336.550 10.096 0 0 98.942 6.768 0Other types of rightsTotal - SUISA - SWITZERLAND 2.502.613 75.078 105.054 0 703.305 140.545 31.809
























91

TEOSTO - FINLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 227.551 6.827 11.036 0 71.945 15.925 3.787Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - TEOSTO - FINLAND 227.551 6.827 11.036 0 71.945 15.925 3.787

TONO - NORWAYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 81.351 2.441 3.946 0 167.442 37.064 8.813Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - TONO - NORWAY 81.351 2.441 3.946 0 167.442 37.064 8.813

UBC - BRAZILCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 344.901 10.347 16.728 0 81.481 18.036 4.288Mechanical reproduction rights 34.563 1.037 0 0 2.719 186 0Other types of rightsTotal - UBC - BRAZIL 379.463 11.384 16.728 0 84.200 18.222 4.288

UCMR-ADA - ROMANIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 117.861 3.536 5.716 0 94.409 20.898 4.969Mechanical reproduction rights 8.910 267 0 0 4.736 324 0Other types of rightsTotal - UCMR-ADA - ROMANIA 126.771 3.803 5.716 0 99.145 21.221 4.969

UMPI - THE UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 0 0 0 0 0Mechanical reproduction rights 0 0 0 0 103.575 7.085 0Other types of rightsTotal - UMPI - THE UNITED KINGDOM 0 0 0 0 103.575 7.085 0

VCPMC - VIET NAMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 3.179 95 154 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - VCPMC - VIET NAM 3.179 95 154 0 0 0 0

ZAIKS - POLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 310.457 9.314 15.057 33.431 9.611 2.128 506Mechanical reproduction rights 35.606 1.068 0 2.050 1.124 77 0Other types of rightsTotal - ZAIKS - POLAND 346.063 10.382 15.057 35.481 10.736 2.204 506

ZAMP Macedonia - MACEDONIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 8.702 261 422 0 0 0 0Mechanical reproduction rights 0 0 0 0 0 0 0Other types of rightsTotal - ZAMP Macedonia - MACEDONIA 8.702 261 422 0 0 0 0

SOUNDREEF LTD - THE UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 235.628 52.157 12.401Mechanical reproduction rights 13.501 924 0Other types of rightsTotal - SOUNDREEF LTD - THE UNITED KINGDOM 0 0 0 0 249.129 53.080 12.401




















92

Cinema

AKKA-LAA - LATVIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 904,33 27 877Mechanical reproduction rights 0 0Other types of rights 0Total - AKKA-LAA - LATVIA 904 27 0 877 0 0 0

ALCS - UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 12.051,79 362 11.690Mechanical reproduction rights 379,34 11 368Other types of rights 0Total - ALCS - UNITED KINGDOM 12.431 373 0 12.058 0 0 0

ARGENTORES - ARGENTINACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 497,44 15 483 22.753 2.607Mechanical reproduction rights 0 0 25.759 2.951Other types of rights 0Total - ARGENTORES - ARGENTINA 497 15 0 483 48.512 5.558 0

ASDACS - AUSTRALIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 404 46Mechanical reproduction rights 0 0 34.173 3.916Other types of rights 0Total - ASDACS - AUSTRALIA 0 0 0 0 34.577 3.962 0

CSCS - CANADACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 61 7Mechanical reproduction rights 0 0 3.580 410Other types of rights 0Total - CSCS - CANADA 0 0 0 0 3.641 417 0

DAC - ARGENTINACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 18.733 562 18.171 205 23Mechanical reproduction rights 0 0 147 17Other types of rights 0Total - DAC - ARGENTINA 18.733 562 0 18.171 352 40 0

DAMA - SPAINCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 256.094 29.343Mechanical reproduction rights 0 0 17.534 2.009Other types of rights 0Total - DAMA - SPAIN 0 0 0 0 273.628 31.352 0

DILIA - CZECH REPUBLICCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 14.469 434 14.035Mechanical reproduction rights 7.509 225 7.283Other types of rights 0Total - DILIA - CZECH REPUBLIC 21.978 659 0 21.319 0 0 0

DIRECTORS UK - UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 1.096 33 1.063 998.043 114.355Mechanical reproduction rights 1.037 31 1.005 246.381 28.230Other types of rights 0Total - DIRECTORS UK - UNITED KINGDOM 2.132 64 0 2.068 1.244.424 142.584 0

DRCC - CANADACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 4.247 487Other types of rights 0Total - DRCC - CANADA 0 0 0 0 4.247 487 0












93

FILMAUTOR - BULGARIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 2.594 297Mechanical reproduction rights 0 0Other types of rights 0Total - FILMAUTOR - BULGARIA 0 0 0 0 2.594 297 0

FILMJUS - HUNGARYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 14.331 430 13.901 2.853 327Mechanical reproduction rights 4.414 132 4.282 369 42Other types of rights 0Total - FILMJUS - HUNGARY 18.745 562 0 18.182 3.222 369 0

KOPIOSTO - FINLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 2.195 252Other types of rights 0Total - KOPIOSTO - FINLAND 0 0 0 0 2.195 252 0


Mechanical performing rights 609 18 590Mechanical reproduction rights 1.465 44 1.421Other types of rights 0Total - LATGA - LITHUANIA 2.074 62 0 2.012 0 0 0

LIRA - NETHERLANDSCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 87.253 2.618 84.636 4.099 470Mechanical reproduction rights 10.084 303 9.782 54 6Other types of rights 0Total - LIRA - NETHERLANDS 97.337 2.920 0 94.417 4.152 476 0

LITA - SLOVAKIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 25.127 754 24.373Mechanical reproduction rights 8.804 264 8.540Other types of rights 0Total - LITA - SLOVAKIA 33.931 1.018 0 32.913 0 0 0

LITERAR-MECHANA - AUSTRIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 24.867 746 24.121 55.647 6.376Mechanical reproduction rights 26.247 787 25.459 11.929 1.367Other types of rights 0Total - LITERAR-MECHANA - AUSTRIA 51.114 1.533 0 49.581 67.576 7.743 0


Mechanical performing rights 51.708 1.551 50.156 53.351 6.113Mechanical reproduction rights 3.116 93 3.022 2.498 286Other types of rights 0Total - SABAM - BELGIUM 54.823 1.645 0 53.179 55.849 6.399 0


Mechanical performing rights 676.633 20.299 656.334 1.866.292 213.837Mechanical reproduction rights 87.277 2.618 84.659 524.030 60.043Other types of rights 0Total - SACD - FRANCE 763.910 22.917 0 740.993 2.390.322 273.880 0

SCAM - FRANCECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 146.019 4.381 141.639 63.211 7.243Mechanical reproduction rights 2.298 69 2.229 53.033 6.076Other types of rights 0Total - SCAM - FRANCE 148.317 4.450 0 143.868 116.244 13.319 0


Mechanical performing rights 170.319 5.110 165.209 903.556 103.528Mechanical reproduction rights 0 0 144.025 16.502Other types of rights 0Total - SGAE - SPAIN 170.319 5.110 0 165.209 1.047.581 120.030 0













94


Mechanical performing rights 1.318 40 1.278Mechanical reproduction rights 0 0Other types of rights 0Total - SPA - PORTUGAL 1.318 40 0 1.278 0 0 0

AWGACS - AUSTRALIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 626,89 19 608 218 25Mechanical reproduction rights 0 0 2.927 335Other types of rights 0Total - AWGACS - AUSTRALIA 627 19 0 608 3.145 360 0

BILDKUNST - GERMANIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 89.661,28 2.690 86.971 781.690 89.565Mechanical reproduction rights 76.371,60 2.291 74.080 104.917 12.021Other types of rights 0Total - BILDKUNST - GERMANIA 166.033 4.981 0 161.052 886.607 101.586 0

CBS - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 108.350 12.415Other types of rights 0Total - CBS - THE UNITED STATES 0 0 0 0 108.350 12.415 0

COMPACT - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 17.346 1.988Other types of rights 0Total - COMPACT - THE UNITED STATES 0 0 0 0 17.346 1.988 0

DACIN SARA - ROMANIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0Other types of rights 0Total - DACIN SARA - ROMANIA 0 0 0 0 0 0 0

DGA - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 9.534 286 9.248 213 24Mechanical reproduction rights 0 0 81.610 9.351Other types of rights 0Total - DGA - THE UNITED STATES 9.534 286 0 9.248 81.824 9.375 0

DREAMWORKS - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0Other types of rights 0Total - DREAMWORKS - THE UNITED STATES 0 0 0 0 0 0 0

FINTAGE - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 173.350 19.862Other types of rights 0Total - FINTAGE - THE UNITED STATES 0 0 0 0 173.350 19.862 0

IFTA - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 115.575 13.242Other types of rights 0Total - IFTA - THE UNITED STATES 0 0 0 0 115.575 13.242 0

MGM - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 58.853 6.743Other types of rights 0Total - MGM - THE UNITED STATES 0 0 0 0 58.853 6.743 0













95

NORWACO - NORWAYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 1.128 34 1.095 236 27Other types of rights 0Total - NORWACO - NORWAY 1.128 34 0 1.095 236 27 0

PPG (VIACOM-PARAMOUNT) - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 87.547 10.031Other types of rights 0Total - PPG (VIACOM-PARAMOUNT) - THE UNITED STATES0 0 0 0 87.547 10.031 0

SONAR ENTERTAINMENT - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0Other types of rights 0Total - SONAR ENTERTAINMENT - THE UNITED STATES 0 0 0 0 0 0 0

SONY - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 108.640 12.448Other types of rights 0Total - SONY - THE UNITED STATES 0 0 0 0 108.640 12.448 0


Mechanical performing rights 311.795 9.354 302.441 3.205 367Mechanical reproduction rights 1.657 50 1.608 2.194 251Other types of rights 0Total - SSA - SWITZERLAND 313.452 9.404 0 304.048 5.398 619 0

SUISSIMAGE - SWITZERLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 199.327 5.980 193.348 38.686 4.433Mechanical reproduction rights 185.879 5.576 180.302 4.351 499Other types of rights 0Total - SUISSIMAGE - SWITZERLAND 385.206 11.556 0 373.650 43.037 4.932 0

TCF (FOX) - UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 187.517 21.485Other types of rights 0Total - TCF (FOX) - UNITED STATES 0 0 0 0 187.517 21.485 0

TNT - UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 22.910 2.625Other types of rights 0Total - TNT - UNITED STATES 0 0 0 0 22.910 2.625 0

UNIVERSAL - UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 254.484 29.158Other types of rights 0Total - UNIVERSAL - UNITED STATES 0 0 0 0 254.484 29.158 0

VDFS - AUSTRIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 13.547 406 13.140 4.880 559Mechanical reproduction rights 5.811 174 5.637 702 80Other types of rights 0Total - VDFS - AUSTRIA 19.358 581 0 18.777 5.582 640 0

VEVAM - THE NETHERLANDSCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 51.917 1.558 50.360 3.090 354Mechanical reproduction rights 2.990 90 2.901 96 11Other types of rights 0Total - VEVAM - THE NETHERLANDS 54.908 1.647 0 53.260 3.186 365 0













96

WALT DISNEY - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0Mechanical reproduction rights 0 0 198.413 22.734Other types of rights 0Total - WALT DISNEY - THE UNITED STATES 0 0 0 0 198.413 22.734 0

WARNER BROS - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 459 53Mechanical reproduction rights 0 0 478.641 54.842Other types of rights 0Total - WARNER BROS - THE UNITED STATES 0 0 0 0 479.100 54.895 0

WGA - THE UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 0 213 24Mechanical reproduction rights 0 0 81.646 9.355Other types of rights 0Total - WGA - THE UNITED STATES 0 0 0 0 81.859 9.379 0

WORT - GERMANYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 103.931 3.118 100.813Mechanical reproduction rights 0 0Other types of rights 0Total - WORT - GERMANY 103.931 3.118 0 100.813 0 0 0

ZAPA - POLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 199.565 5.987 193.578 739 85Mechanical reproduction rights 5.248 157 5.091 254 29Other types of rights 0Total - ZAPA - POLAND 204.813 6.144 0 198.669 992 114 0







97

DOR (Theatre and Radio and Television works)

AAS - SLOVENIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 6.879 206 6.673Mechanical reproduction rights 0Other types of rights 0Total - AAS - SLOVENIA 6.879 206 0 6.673 0 0 0

ABRAMUS - BRAZILCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 18.869 566 18.303Mechanical reproduction rights 0Other types of rights 0Total - ABRAMUS - BRAZIL 18.869 566 0 18.303 0 0 0

AGADU - URUGUAYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 89 3 86Mechanical reproduction rights 0Other types of rights 0Total - AGADU - URUGUAY 89 3 0 86 0 0 0


Mechanical performing rights 4.758 143 4.615Mechanical reproduction rights 0Other types of rights 0Total - AKKA-LAA - LATVIA 4.758 143 0 4.615 0 0 0


Mechanical performing rights 928 28 900 8.937 1.860Mechanical reproduction rights 0 13 1Other types of rights 0Total - ARGENTORES - ARGENTINA 928 28 0 900 8.950 1.861 0

ARMAUTHOR NGO - ARMENIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 55 2 53Mechanical reproduction rights 0Other types of rights 0Total - ARMAUTHOR NGO - ARMENIA 55 2 0 53 0 0 0

DILIA - CZECH REPUBLICCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 52.073 1.562 50.511Mechanical reproduction rights 0Other types of rights 0Total - DILIA - CZECH REPUBLIC 52.073 1.562 0 50.511 0 0 0

EAU - ESTONIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 4.878 146 4.732Mechanical reproduction rights 0Other types of rights 0Total - EAU - ESTONIA 4.878 146 0 4.732 0 0 0

HAA - CROATIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 4.515 135 4.380Mechanical reproduction rights 0Other types of rights 0Total - HAA - CROATIA 4.515 135 0 4.380 0 0 0


Mechanical performing rights 2.616 78 2.537Mechanical reproduction rights 0Other types of rights 0Total - LATGA - LITHUANIA 2.616 78 0 2.537 0 0 0












98

LITA - SLOVAKIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 1.105 33 1.071Mechanical reproduction rights 0Other types of rights 0Total - LITA - SLOVAKIA 1.105 33 0 1.071 0 0 0

NCIP - BELARUSCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 795 24 771Mechanical reproduction rights 0Other types of rights 0Total - NCIP - BELARUS 795 24 0 771 0 0 0

RAO - THE RUSSIAN FEDERATIONCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 137.975 4.139 133.836Mechanical reproduction rights 0Other types of rights 0Total - RAO - THE RUSSIAN FEDERATION 137.975 4.139 0 133.836 0 0 0


Mechanical performing rights 19.693 591 19.102Mechanical reproduction rights 0Other types of rights 0Total - SABAM - BELGIUM 19.693 591 0 19.102 0 0 0


Mechanical performing rights 278.600 8.358 270.242 292.828 63.953Mechanical reproduction rights 0 828 57Other types of rights 0Total - SACD - FRANCE 278.600 8.358 0 270.242 293.655 64.011 0


Mechanical performing rights 7.213 216 6.996 30.331 7.063Mechanical reproduction rights 0 32 1Other types of rights 0Total - SGAE - SPAIN 7.213 216 0 6.996 30.363 7.064 0

SOGEM - MEXICOCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 1.500 45 1.455Mechanical reproduction rights 0Other types of rights 0Total - SOGEM - MEXICO 1.500 45 0 1.455 0 0 0

SOPE - GREECECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 2.914 87 2.827Mechanical reproduction rights 0Other types of rights 0Total - SOPE - GREECE 2.914 87 0 2.827 0 0 0


Mechanical performing rights 4.281 128 4.153Mechanical reproduction rights 0Other types of rights 0Total - SPA - PORTUGAL 4.281 128 0 4.153 0 0 0


Mechanical performing rights 387.863 11.636 376.227 16.594 3.319Mechanical reproduction rights 50.043 1.501 48.542 0Other types of rights 0Total - SSA - SWITZERLAND 437.906 13.137 0 424.769 16.594 3.319 0

SUISSIMAGE - SWITZERLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 79 2 76Mechanical reproduction rights 0Other types of rights 0Total - SUISSIMAGE - SWITZERLAND 79 2 0 76 0 0 0













99

Opera and Ballet


Mechanical performing rights 9.106 273 8.832Mechanical reproduction rights 0Other types of rights 0Total - ZAIKS - POLAND 9.106 273 0 8.832 0 0 0



Mechanical performing rights 395 12 383Mechanical reproduction rights 0Other types of rights 0Total - AKKA-LAA - LATVIA 395 12 0 383 0 0 0


Mechanical performing rights 1.825 55 1.770Mechanical reproduction rights 0Other types of rights 0Total - LATGA - LITHUANIA 1.825 55 0 1.770 0 0 0

RAO - RUSSIAN FEDERATIONCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 2.707 81 2.626Mechanical reproduction rights 0Other types of rights 0Total - RAO - RUSSIAN FEDERATION 2.707 81 0 2.626 0 0 0


Mechanical performing rights 783 24 760Mechanical reproduction rights 0Other types of rights 0Total - SABAM - BELGIUM 783 24 0 760 0 0 0


Mechanical performing rights 45.563 1.367 44.196 161.642 19.108Mechanical reproduction rights 0Other types of rights 0Total - SACD - FRANCE 45.563 1.367 0 44.196 161.642 19.108 0


Mechanical performing rights 58 2 56 27.418 3.125Mechanical reproduction rights 0Other types of rights 0Total - SGAE - SPAIN 58 2 0 56 27.418 3.125 0


Mechanical performing rights 737 22 715Mechanical reproduction rights 0Other types of rights 0Total - SPA - PORTUGAL 737 22 0 715 0 0 0


Mechanical performing rights 38.698 1.161 37.537 31.404 3.299Mechanical reproduction rights 0Other types of rights 0Total - SSA - SWITZERLAND 38.698 1.161 0 37.537 31.404 3.299 0

SUISA - SWITZERLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 377 11 366Mechanical reproduction rights 0Other types of rights 0Total - SUISA - SWITZERLAND 377 11 0 366 0 0 0











100


Mechanical performing rights 33 1 32Mechanical reproduction rights 0Other types of rights 0Total - ZAIKS - POLAND 33 1 0 32 0 0 0


Mechanical performing rights 0 0 0 4.623 264Mechanical reproduction rights 0Other types of rights 0Total - ARGENTORES - ARGENTINA 0 0 0 0 4.623 264 0

SACEM - FRANCECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0 30.145 2.036Mechanical reproduction rights 0Other types of rights 0Total - SACEM - FRANCE 0 0 0 0 30.145 2.036 0





101

OLAF – Literary works


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 46 1 45Total - AKKA-LAA - LATVIA 46 1 0 45 0 0 0

ALCS - UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 19.189 576 18.613Total - ALCS - UNITED KINGDOM 19.189 576 0 18.613 0 0 0

ARTISJUS - HUNGARYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 3.247 97 3.150Total - ARTISJUS - HUNGARY 3.247 97 0 3.150 0 0 0

CEDRO - SPAINCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 5.442 163 5.279Total - CEDRO-SPAGNA 5.442 163 0 5.279 0 0 0

Canadian Copyright Licensing Agency (ACCESS)-CANADACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 4.790 144 4.647Total - Canadian Copyright Licensing Agency (ACCESS)-CANADA4.790 144 0 4.647 0 0 0

CFC - FRANCECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 50.362 1.511 48.851Total - CFC-FRANCIA 50.362 1.511 0 48.851 0 0 0

Copyright Agency - AUSTRALIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 52.128 1.564 50.564Total - Copyright Agency - AUSTRALIA 52.128 1.564 0 50.564 0 0 0

CLA- UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 99.513 2.985 96.528 125.032 44.654Total - CLA - UNITED KINGDOM 99.513 2.985 0 96.528 125.032 44.654 0

CLL-NEW ZEALANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 917 27 889Total - CLL-NEW ZEALAND 917 27 0 889 0 0 0

COPYDAN-WRITING - DENMARKCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 33.428 1.003 32.425Total - COPYDAN-WRITING - DENMARK 33.428 1.003 0 32.425 0 0 0












102

KOPINOR- NORWAYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 26.522 796 25.726Total - KOPINOR - NORWAY 26.522 796 0 25.726 0 0 0

LITERAR-MECHANA - AUSTRIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 163 5 158Total - LITERAR-MECHANA - AUSTRIA 163 5 0 158 0 0 0

PROLITTERIS - SWITZERLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 44.273 1.328 42.945Total - PROLITTERIS - SWITZERLAND 44.273 1.328 0 42.945 0 0 0


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 9 0 9Total - SABAM - BELGIUM 9 0 0 9 0 0 0


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 204 6 198Total - SACD - FRANCE 204 6 0 198 0 0 0

SCAM - FRANCECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 36 1 35 1.421 152Total - SCAM - FRANCE 36 1 0 35 1.421 152 0


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 21 1 21Total - SPA - PORTUGAL 21 1 0 21 0 0 0


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 2.789 84 2.705Total - SSA - SWITZERLAND 2.789 84 0 2.705 0 0 0

WORT - GERMANYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 97.193 2.916 94.277Total - WORT-GERMANY 97.193 2.916 0 94.277 0 0 0

Various usersCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 8.416 252 8.163Total - VARIOUS USERS 97.193 252 0 8.163 0 0 0










Collections from other Collective Management Organizations Payments to other collective management Organizations


103

OLAF – Visual Arts

ADAGP - FRANCECategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 244.963 7.349 237.614 999.413 328.128Total - ADAGP - FRANCE 244.963 7.349 0 237.614 999.413 328.128 0

ACS-UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 0 14.259 4.174Total - ACS-UNITED KINGDOM 0 0 14.259 4.174 0


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 113 3 109Total - AKKA-LAA - LATVIA 113 3 0 109 0 0 0

ARS - UNITED STATESCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 26.338 790 25.548 210.311 95.808Total - ARS - UNITED STATES 26.338 790 0 25.548 210.311 95.808 0

BILD-KUNST - GERMANYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 248.339 7.450 240.889 171.994 49.808Total - BILD-KUNST - GERMANY 248.339 7.450 0 240.889 171.994 49.808 0

BILDRECHT GmbH - AUSTRIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 235.291 7.059 228.232Total - BILDRECHT GmbH - AUSTRIA 235.291 7.059 0 228.232 0 0 0

BONO - NORWAYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 5.860 176 5.684 4.965 2.292Total - BONO - NORWAY 5.860 176 0 5.684 4.965 2.292 0

Bildupphovsrätt - SWEDENCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 17.715 531 17.184Total - Bildupphovsrätt - SWEDEN 17.715 531 0 17.184 0 0 0

Copyright Agency - AUSTRALIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 10.243 307 9.936 343 89Total - Copyright Agency - AUSTRALIA 10.243 307 0 9.936 343 89 0

VISDA - DENMARKCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 7.577 227 7.350Total - VISDA - DENMARK 7.577 227 0 7.350 0 0 0












104

COPYDAN-WRITING - DENMARKCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 3.039 91 2.948Total - COPYDAN-WRITING - DENMARK 3.039 91 0 2.948 0 0 0

DACS - UNITED KINGDOMCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 946.080 28.382 917.697Total - DACS - UNITED KINGDOM 946.080 28.382 0 917.697 0 0 0

HUNGART - HUNGARYCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 605 18 587Total - HUNGART - HUNGARY 605 18 0 587 0 0 0

JASPAR - JAPANCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 11.031 331 10.700Total - JASPAR - JAPAN 11.031 331 0 10.700 0 0 0

KUVASTO - FINLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 2.089 63 2.026 625 300Total - KUVASTO - FINLAND 2.089 63 0 2.026 625 300 0

LIRA - THE NETHERLANDSCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 41.637 1.249 40.388Total - LIRA - THE NETHERLANDS 41.637 1.249 0 40.388 0 0 0


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 119 4 115Total - LATGA - LITHUANIA 119 4 0 115 0 0 0

PICTORIGHT - HOLLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 49.068 1.472 47.596Total - PICTORIGHT - HOLLAND 49.068 1.472 0 47.596 0 0 0

PROLITTERIS - SWITZERLANDCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 12.005 360 11.645Total - PROLITTERIS - SWITZERLAND 12.005 360 0 11.645 0 0 0


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 6.232 187 6.045Total - SABAM - BELGIUM 6.232 187 0 6.045 0 0 0

SACK - KOREA, REPUBLIC OFCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 2.980 89 2.891Total - SACK - KOREA, REPUBLIC OF 2.980 89 0 2.891 0 0 0













105

SOCAN - CANADACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 1.129 34 1.096Total - SOCAN - CANADA 1.129 34 0 1.096 0 0 0


Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 116 3 113Total - SPA - PORTUGAL 116 3 0 113 0 0 0

VEGAP - SPAINCategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 28.183 845 27.338 202.920 78.397Total - VEGAP - SPAIN 28.183 845 0 27.338 202.920 78.397 0

VISCOPY - AUSTRALIACategory name Amounts received Allocated shares Other deductionsAmounts distributed Amounts paid Allocated shares Other deductions

Mechanical performing rights 0Mechanical reproduction rights 0Other types of rights 0 1.871 474Total - VISCOPY - AUSTRALIA 0 0 0 0 1.871 474 0





Independent Auditors’ Report

Financial year 2019


www.siae.it

http://www.siae.it/


108

RELAZIONE DI TRASPARENZA 2019

109


110


111

Report of the Board of Auditors

Financial year 2019


www.siae.it

http://www.siae.it/


114


115

transparency report 2019 - siae.it...1 transparency report 2019 directive 2014/26/ue, article 22...

Documents