French collecting society have reported their highest figures ever, a fantastic sign for songwriters and composers in France.

The music industry around the world is growing, bolstering the position of artists and those behind the scenes. With incredible results from French collection society SACEM, things are looking bright for composers, songwriters, and music publishers in the country.

The Society of Authors, Composers, and Publishers of Music (Société des Auteurs, Compositeurs et Éditeurs de Musique: SACEM) have released their 2023 results. Last year, SACEM collected a record amount of revenue, collecting €1.49 billion for the year (roughly $1.62 billion). That’s 5% year-on-year growth.

Their digital collections grew 13%, which totalled €557 million. They point to new deals with Apple Music, Spotify, and Deezer as helping to grow their collection intake. They have also made efforts to reduce their operating costs and become more efficient, reporting operations cost 10.8 less in 2023 after already reducing costs by 11.7% in 2022.

SACEM CEO, Cécile Rap-Veber says: “2023 was a year of confirmation in the implementation of our major strategic priorities. Looking beyond the figures, we have worked to provide social and professional support for our members and have continued to defend our collective management model in the face of competition and technological upheaval.”

Rap-Veber sees shifting trends like AI and new players continuing this year and announces that SACEM will continue to adapt to the changing industry to continue growth this year. She continues: “In this immensely challenging environment, we will continue to evolve in order to strengthen our capacity for innovation and to remain the undisputed leader in the collective management of copyright and the protection of creative works for the benefit of all.”