Karl Vestli (53) has been appointed as the new CEO of the Norwegian collective management organisation TONO. He will take over from Cato Strøm, who is retiring after 33 years in the position. Vestli is currently Director of Strategy at the Norwegian Directorate of eHealth and has extensive experience from major Norwegian media companies, including Schibsted, Aftenposten and Dagens Næringsliv. He will take up his position on 1 October.
Music copyright revenues constitute one of the largest revenue areas in the Norwegian music industry. TONO had a record turnover of NOK 843.9 million in 2021. Today, TONO releases the annual report for 2021.
Cato Strøm will be retiring on 1 July 2022 after 33 years as CEO of TONO.
Despite the growth in income from abroad and from the internet, Covid-19 hit creators and music publishers hard in 2020, leading to a significant fall in TONO’s revenues in the majority of areas during the year. Revenues totalled NOK 712.4 million in 2020, down 7.61 per cent on 2019.
In 2019, TONO generated sales of NOK 771 million, up 9 per cent from 2018. The cost ratio was 10.5 per cent, the lowest in the company’s history.
The Norwegian Supreme Court held the TV distributor RiksTV liable to pay compensation for music rights pursuant to the Norwegian Copyright Act section 3. TONO also won the case in the city court and in the appeal court, and was awarded MNOK 7.3 in total legal costs. The claim comprises more than 20 TV channels […]
The financial daily Dagens Næringsliv (DN) has made strong, seemingly credible allegations, stating that Tidal has manipulated the streaming figures for the artists Beyoncé and Kanye West. TONO is now filing a complaint with the National Authority for Investigation and Prosecution of Economic and Environmental Crime in Norway.