COVID-19 Impact On Teosto And Finnish Music Industry23.03.2020
With the COVID-19, the world and the creative industry are facing an unprecedented crisis. Also, Finland has implemented a number of measures to prevent the spread of the virus, including shutting down school facilities and many other public service points, introducing border restrictions and declaring a state of emergency.
These arrangements do not affect the operations of Teosto. Teosto personnel is working remotely from 13th of March. All meetings and customer contacts are taken place digitally or by phone. You can reach our staff normally by phone and email, see our contact information.
Teosto is also able to carry out the distributions normally. Teosto has paid March’s distribution to rightsholders on 19 March 2020. Also, our coming distribution to sister societies on 9th April will happen as planned. The coronavirus situation will not affect the distributions to be paid in June 2020; possible impacts will be visible in later distributions.
Performing artists and event organizers are seriously affected especially by the restrictions on gatherings. Finnish government has limited public gatherings to 10 people to slow down the coronavirus epidemic. The revenue lost will not only hit the artists performing the music, but also the composers and songwriters who lose Teosto revenues.
Livestreams and virtual events
Many companies and communities have switched from live shows to livestreaming. Teosto has temporarily decided that all music licences bought for events also include a licence for live-streaming. Licenses can also be canceled and modified at a later due date. Please contact Teosto’s customer service for more information.
Teosto is fully committed to supporting the creative community in every way we can. Teosto is actively working with other organizations of the music industry, both domestically and internationally, to push political solutions to help our creators. The following measures already have been addressed in Finland:
- The Ministry of Education and Culture, together with several foundations and Arts Promotion Centre Finland granted a swift assistance of EUR 1.5 million to arts and culture professionals who have been hard hit by the coronavirus outbreak.
- Business Finland has launched a special funding for SMEs and midcap companies whose business is affected by corona virus outbreak. This funding is specifically targeted, among others, at creative sector.
- The government allows also freelancers and sole traders to claim unemployment benefits without shutting down their businesses. The waiting period before people can claim unemployment benefits is also eliminated.
- The National Broadcasting Company YLE has announced that it will increase the amount of music on its channels. Commercial channels also rely heavily on the power of music.
We wish all our music authors, publishers and clients good health and well-being in this critical situation. Many of us turn to music to help us get through hard times of crisis.
Let’s keep the music playing!