transparency report 2017 · rizzi antonella solbiati alessandro ... galletti anna lavezzi mario...

TRANSPARENCY REPORT 2017

Directive 2014/26/UE art. 22 – Legislative Decree 35/2017 art.28

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

www.siae.it

2

CONTENTS

SIAE BODIES 3

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 23

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

subparagraph 2

24

d) SIAE Legal and governance structure 24

e) Entities directly or indirectly owned or controlled by SIAE 27

f ) Remunerations paid to the Supervisory Board and to the Management Board 28

g) Financial information referred to in point 2 28

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

educational purposes

29

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 47

- CINEMA REPERTORY 53

- DOR-LYRIC REPERTORY 59

- OLAF REPERTORY 67

ATTACHMENT 1: Relations with other Collective Management Organizations 73


3

SIAE BODIES

As of the approval date of the Transparency Report 2017

PRESIDENT

Sugar Filippo Nicola

MANAGEMENT BOARD

Monti Arduini Federico

Proietti Biagio

Purgatori Andrea

Scordino Luca Domenico

SUPERVISORY BOARD

Micalizzi Franco

Franchini Paolo

Angrisano Alessandro

Barbagallo Angelo

Biocca Antonino

Bolelli Ferrera Antonella

Bonizzoni Roberto

Borgatti Gianfranco

Brunetta Caprini Linda

Buja Claudio

Cinque Massimo

Costa Vittorio

Daldello Franco

De Martino Giuseppe

De Siervo Luigi

Gramitto Ricci Alfredo

Maisano Michele

Mauri Pierangelo

Maxia Maria Grazia

Minellono Cristiano

Narici Ilaria Anna

Ostali Piero Giancarlo

Perilli Paola

Piovani Nicola

Polillo Marco

Prudente Oscar

Razzini Roberto

Rizzi Antonella

Solbiati Alessandro

Tommaso Vito

Verona Tonino

Villevieille Bideri Silvia

4

Lavezzi Mario

Leonardi Piero

ADVISORY COMMITTEES

MUSIC SECTION CINEMA SECTION

Benini Massimo

Buja Claudio

Chiaravalle Valeriano

Corsi Paolo

Costa Vittorio

Fedele Francesco Saverio

Galletti Anna

Lavezzi Mario

Minellono Cristiano

Razzini Roberto

Alberico Michele

Barbanente Mariangela

Biocca Antonino

Conforti Michele

Koch Giovanna

Gaudino Lucio

DOR SECTION LYRIC SECTION

Amurri Valentina

Brunetta Caprini Linda

Cavosi Roberto

Cinque Massimo

D’Arborio Paola

Di Stefano Riccardo

Flora Giovanna

Longoni Gianmario

Battistelli Giorgio

Cannito Luciano

Moro Laura

Narici Ilaria Anna

Ostinelli Cristiano

Savasta Alessandro

OLAF SECTION

Bolelli Ferrera Antonella

Fallai Paolo

Foschini Cristina

Hoepli Giovanni Ulrico Carlo

Benigni Claudio


5

Piccarolo Laura

AUDIT COMMITTEE INTERNAL AUDIT

Belmonte Laura

Fiori Giovanni

Nova Massimiliano

Substitutes:

De Buglio Massimo

Romani Barbara

Scordino Luca Domenico

GENERAL DIRECTOR

Blandini Gaetano

6

INTRODUCTION

On March 27, 2017, the Legislative Decree no.35 of March 15, 2017 was published on the Official Gazette

of the Italian Republic (no. 72) which sets out the "Implementation of the Directive 2014/26/UE

regarding the collective copyright management and the connected rights and the concession of

multiterritory licenses for rights on musical works for the online utilization in the internal market".

In particular, the decree transposes the Community rules setting the requirements in order to ensure

the management proper functioning regarding the copyrights and the connected rights and the

concession of multiterritory licenses operated by the collective management organizations for the

online utilization of musical works in the internal market.

Article 28 of the decree introduced the annual Transparency report as a binding document, including

the Special report regarding the utilization of the amounts detracted in order to provide social, cultural

and educational services. The Transparency report must at least contain the information required by a

special Attachment to the decree. Apart from the Transparency report, SIAE draws up and transmits to

the Parliament and to the supervisory bodies an annual report regarding the results of the developed

activity, related to transparency and efficiency profiles.

***

Numbers format

It should be noted that dots are used as thousands separators while commas are used as decimal

separators.

1) Information provided according to the Annex referred to in art. 28,

subparagraph 2 of the Legislative Decree no.35 of March 15, 2017

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

SIAE draws up its Financial Statement in accordance with the Book V, Title V, Chapter V, Section IX, of

the Civil Code (Legislative Decree no. 35/2017 art.8 subparagraph 1 d) 3), as reformed by the Legislative

Decree no. 139/2015, and the accounting standards issued by the Italian Accounting Body (OIC), updated

during the year 2016.

Moreover, starting from January 1, 2005, SIAE voluntarily underwent a financial audit in accordance

with the art. 2409-ter of the Civil Code (now Article 37 of the Legislative Decree of January 27, 2010,

no.39).

The Financial Statement dated December 31, 2017 consists of:

- Balance Sheet, Income Statement and Notes on the Accounts;

- Management Report;


7

- Cash Flow Statement;

- Separate reports concerning “Endorsement”, “Solidarity Fund” e “Project SILLUMINA”

managements.

The Financial Statement, in accordance with the scheme described by the Civil Code for Limited

Companies, has a scalar structure, with the evidence of the “Operative Result” as the difference

between Production Value and Costs (so-called A-B) and (separately) of the result of the financial

management.

What is more, compared to other industrial realities, SIAE presents strong elements of differentiations

because the production cycle is reverse as the revenues (the collection of the copyright) anticipate the

expenditures (inputs acquisition). This leads to the circumstance that the economic parameter

represented by the difference between Production Value and Costs (Difference between A-B of the

Income Statement) is not properly representative, because the capacity to produce liquidity and, as a

consequence, financial incomes is physiological (therefore a typical element).

The Income Statement was therefore managerially re-classified in order to provide the reader useful

information for the interpretation of the economic outturn of the current management of the business

and of the one related to the strategic actions put in place during the accounting period.

8

The reclassified scheme listed above points out that the current management produced revenues

equal to 176,6 millions of euros and costs equal to 159,6 millions euros. The profit, of about 17 millions

of euros (substantially equal to the financial component), allowed to sustain the strategic charges and

the social and cultural activities.

The presence of profits consents to plan actions that benefit the membership base in terms of:

- Decrease of commissions (the average commission in 2009 amounted to 16,7 %, in 2017 to

15,3 %).

- Investments in order to improve the business efficiency (informatics, reorganization, etc.);

from 2013 to 2017, 28,3 millions of euros were invested only for informatics.

- Support to social and charity initiatives and cultural promotion.

Indeed, without these actions, the Financial Statement would register large surpluses that are not

consistent with the company mission.

CURRENT MANAGEMENT 2017 2016

Revenues and Incomes 176,6 177,8Copyright 118,3 123,9Private Copy 4,2 4,4Convention services 30,0 30,4Other revenues and incomes 7,1 11,4Financial management balance 16,9 7,7

Costs and expenses 159,6 161,9Staff 76,2 81,1Management and functioning 75,7 74,6Different charges 2,7 2,7Amortizations 4,9 3,5

Current management result 17,0 15,9STRATEGIC MANAGEMENT 0,0

Plus/minus from financial assets cession 0,0 0,0Strategic plan (6,6) (9,0)Transposition of the Directive Barnier, sectoral studies and organization of the elections (1,0) 0,0Corporate reorganization charges (4,4) (5,6)Cultural and social activities (0,9) (0,9)

Strategic management balance (12,9) (15,5)#N/D

Management result 4,1 0,4

Income taxes 0,3 (0,4)

Separated managements 0,1 0,5Special sectional accounts 0,0 0,0

Result of the accounting period 3,9 1,3

2017 Accounting period - Reclassified Income Statement (amounts in millions of euros)


9

The surpluses, equal to 3,9 millions of euros in this particular case, increase, as provided for in the

Memorandum of Association, the Reserves which represent, in the absence of a Share Capital, the only

guarantee fund for the business continuity.

Balance sheet 2017 2016AssetB) FIXED ASSETSI) Intangible fixed assets

3) Industrial patents and use of intellectual property rights 5.318.760 5.358.0396) Fixed assets under construction and advances 293.289 1.213.9147) Other intangible fixed assets 3.983.288 3.268.297

Total intangible fixed assets (I) 9.595.337 9.840.250

II) Tangible fixed assets1) Land and buildings 32.302.347 31.882.347

-Land and buildings amortization fund (9.814.682) (9.214.581)

22.487.665 22.667.766

2) Installations and machines 6.057.003 5.735.809- Installations and machines amortization fund (4.907.343) (5.194.948)

1.149.660 540.861

3) Industrial and commercial equipment 15.273.462 16.356.510- Industrial and commercial equipment fund (14.235.085) (14.853.720)

1.038.377 1.502.790

5) Fixed assets under construction and advances 0 20

Total tangible fixed assets (II) 24.675.702 24.711.437

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 72.031 88.564- installments due after the following accounting period 96.462.783 84.281.378

96.534.814 84.369.9423) Other securities:

a) S.I.A.E. securities 68.031.628 69.577.305b) 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 616.000.000 615.000.000

879.841.624 880.387.301

Total financial fixed assets (III) 976.380.095 964.760.900TOTAL FIXED ASSETS (B) 1.010.651.134 999.312.587

10

C) CURRENT ASSET

II) Receivables1) From customers

a)from associates and principals1) from associates and principals for shares and annual contributions 1.584.483 875.788

- Devaluation fund receivables for shares (426.750) (400.000)1.157.733 475.788

2) from associates and principals for advances 82.685.597 72.276.222- other receivables from associates and principals 30.010 39.805

- Devaluation fund receivables for advances (266.176) (295.947)82.449.431 72.020.080

83.607.164 72.495.868

b) for private copy compensations 534.223 708.168c) from other principals 424.260 2.444.429d) from users 248.922.016 180.355.841e) from others 182.368 342.233

Total receivables from customers 333.670.031 256.346.539

4-bis) Tax receivables 29.895.833 21.553.117Total tax receivables 29.895.833 21.553.1174-ter) Advanced taxes 9.900.013 10.752.459

5) From othersa) from employees 212.319 246.681b) from banks 2.108 18.727c) other credits 8.019.650 4.134.009

- other receivables devaluation fund (164.553) (396.754)7.855.097 3.737.255

Total receivables from others 8.069.524 4.002.663

Total receivables (II) 381.535.401 292.654.778

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

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

IV) Cash1) Bank and postal deposits 208.135.464 245.366.9193) Money and cash on hand 23.422 22.015

Total cash (IV) 208.158.886 245.388.934TOTAL CURRENT ASSET (C) 589.694.287 538.043.712

D) ACCRUALS AND PREPAID EXPENSESa) Accruals and prepaid expenses 5.816.839 21.797.501 TOTAL ACCRUALS AND PREPAID EXPENSES (D) 5.816.839 21.797.501

TOTAL ASSET 1.606.162.260 1.559.153.800


11

Liabilities 2017 2016A) NET WORTH

III) Revaluation reserves1) revaluation ex.L. 21/11/00 n. 342 39.150.070 39.150.0702) revaluation ex.L. 24/12/03 n. 350 41.007.241 41.007.2413) revaluation ex.L. 28/01/2009 n. 2 11.564.615 11.564.615

Total revaluation reserves (III) 91.721.926 91.721.926

V) Statutory reserves1) permanent reserve 16.194.908 15.545.0592) extraordinary reserve 11.937.940 11.353.075

Total statutory reserves (V) 28.132.848 26.898.134

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 3.956.599 1.299.696TOTAL NET WORTH (A) 123.811.610 119.919.993

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

a) principals retirement indemnity 28.614.440 28.745.850b) additional fees for the end of the verification activity of the employees 18.475 18.475

Total retirement pensions and similar obligations 28.632.915 28.764.325

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 81.392.742 81.494.5384) permanent reserve 2.866.024 2.866.024

93.569.187 93.670.983

b) for risks connected to the management activity 5.896.360 5.908.690c) for Pensions Fund management risks 5.199.364 8.000.000d) for corporate reorganization risks 9.500.000 19.500.000e) for private copy refunds corrections 0 0f) for employees incentive 4.246.000 2.600.000g) charges for security contributions 0 0

Total Others 118.410.911 129.679.673TOTAL FUNDS FOR RISKS AND CHARGES (B) 147.043.826 158.443.998

C) EMPLOYEES SEVERANCE INDEMNITYTOTAL EMPLOYEES SEVERANCE INDEMNITY (C) 17.432.197 21.385.725

12

D) PAYABLES4) Payables to banksa) withholding taxes to deduct 0 0b) other payables 27.917 28.487

Total payables to banks 27.917 28.487

7) Payables to suppliers 15.656.949 17.839.438

12) Tax payables 37.518 2.301.336

13) Payables to security and social institutes 6.733.087 8.437.540

14) Other payablesa) to associates, principals and persons entitled 826.870.595 848.914.834b) to others for "private copy compensations" 178.938.034 156.759.617c) to other principals (various entities) 1.438.846 1.269.219d) to operators and others for provisional and cautionary deposits 19.536.508 20.733.369e) to different corporate bodies and organisms 240.935 200.931f) to employees 7.866.914 9.046.422g) different payables

1) different payables 8.343.138 4.924.3372) copyrights waiting for collection 235.840.596 181.836.969

244.183.734 186.761.306

h) cultural activities funded from private copy 15.736.538 6.653.180

Total other payables 1.294.812.104 1.230.338.878TOTAL PAYABLES (D) 1.317.267.575 1.258.945.679

E) ACCRUALS AND DEFERRED INCOMESa) Accruals and deferred incomes 607.052 458.405

TOTAL ACCRUALS AND DEFERRED INCOMES (E) 607.052 458.405

TOTAL LIABILITIES 1.606.162.260 1.559.153.800


13

Income Statement 2017 2016A) PRODUCTION VALUE

1) Revenues from sales and performancesa) copyright management

1) allocated shares on copyright collections- Music 77.120.337 76.488.674- Dor-Lyric 9.982.202 9.652.547- Olaf 2.356.535 2.671.932- Cinema 5.157.880 8.325.074

94.616.954 97.138.2272) institutional services 1.280.541 1.355.7903) shares 8.305.969 8.870.8194) services connected to the authorial management

- connected rights 1.398.116 1.394.309-administrative rights 5.667.745 6.017.272- other authorial services 831.050 848.394

7.896.911 8.259.9755) complementary collections 5.492.317 5.786.466

Total copyright management 117.592.692 121.411.277

b) expenses reimbursement for the "private copy" service 4.244.792 4.354.991

c) endorsement 3.063.341 3.322.198

d) convention services- ticketing 847.487 884.380- hallmarking 49.077 51.254- Italian Revenue Agency convention 26.400.000 28.829.400- cinematographic rental convention 995.347 1.097.820- Customs and Monopolies Agency convention 1.465.110 213.540- other conventions 280.876 276.099

30.037.897 31.352.493

Total revenues from sales and performances (1) 154.938.722 160.440.959

5) Other revenues and incomesa) real estate management revenues 1.963.399 3.643.836b) Solidarity Fund incomes 2.216.002 2.479.475c) project "SILLUMINA" 9.599.678 6.560.000d) services provided to separate accounts 1.200.632 1.237.892e) use of sectional accounts 5.940.224 4.559.171f) other incomes 4.184.114 7.393.304

Total other revenues and incomes (5) 25.104.049 25.873.678TOTAL PRODUCTION VALUE (A) 180.042.771 186.314.637

14

B) PRODUCTION COSTS

6) For purchasinga) goods for sale 398.555 670.486b) various consumer goods and materials 748.131 682.755

Total for purchasing (6) 1.146.686 1.353.241

7) For servicesa) business services

1) principals- social security contributions and fees 40.674.816 41.011.396- provisions for employees severance indemnity 1.604.523 1.517.355

42.279.339 42.528.751

2) external inspectors 375.636 338.2233) third party processing 2.220.418 3.052.7514) other business services 3.471.391 2.681.138

48.346.784 48.600.863b) professional services

1) professional performances 2.444.872 1.698.2812) legal advocacy 1.451.933 1.412.3313) consultations 0 409.0064) staff selection, education and training 128.581 206.860

4.025.386 3.726.478c) functioning services

1) operating services 9.447.805 9.471.7242) information technology services 7.423.429 8.695.3813) travel expenses and external activity 632.084 678.1144) financial services 777.947 737.1665) advertising and communication services 1.023.327 1.731.5406) provisions for charges for services funds 346.732 0

19.651.324 21.313.925

d) corporate bodies and different organisms 988.426 996.556

Total for services (7) 73.011.920 74.637.822

8) For the use of third parties goodsa) third parties real estate 8.578.127 8.681.135b) rental and leasing of goods and various equipment 176.271 195.338

Total for the use of third parties goods (8) 8.754.398 8.876.473

9) For the staffa) fixed compensations

1) fixed compensations 51.696.960 55.601.6272) compensations for inspection activity, extraordinary works and various 2.508.290 3.272.770

54.205.250 58.874.397b) social security charges 14.040.261 14.624.649c) employees severance indemnity 4.264.808 4.411.448d) retirement pension and similar 0 0e) other costs 5.251.800 4.558.406

Total for the staff (9) 77.762.119 82.468.900


15

10) Amortizations and devaluationsa) amortizations of the intangible fixed assets 5.993.751 3.821.633b) amortizations of the tangible fixed assets 1.973.244 1.800.644c) other devaluations of the fixed assets 0 0d) devaluation of the receivables included in current asset and cash 389.358 350.505

Total amortizations and devaluations (10) 8.356.353 5.972.782

12) Provision for risks and chargesa) provisions to funds for future charges 5.190.148 5.730.280

Total provisions for risks and charges (12) 5.190.148 5.730.280

14) Different management chargesa) Solidarity Fund 1.289.010 1.567.724b) supplementary contribution pensions fund 0 0c) associates extraordinary contribution 0 0d) representation expenses 45.596 45.068e) expenses for the organization of national and international conferences 214.532 0f) cultural promotion 3.979.739 3.114.074g) social activities 9.673.528 6.623.632h) different taxes and fees 1.865.133 1.636.759i) different expenses 900.601 373.532

Total different management charges (14) 17.968.139 13.360.789TOTAL PRODUCTION COSTS (B) 192.189.763 192.400.287

DIFFERENCE (A-B) (12.146.992) (6.085.650)

C) REVENUES AND FINANCIAL CHARGES16) Other financial revenuesa) from receivables stated under fixed assets 33.837 20.679b) from securities stated under fixed assets

1) dividends 10.966.269 15.352.7962) interests income on securities 1.934.730 3.195.1253) various revenues on securities 12.395 12.429

12.913.394 18.560.350c) from securities stated under current assets

- interests income on securities stated under current assets 1.184.901 640.533- capital gains on securities stated under current assets 24.955 416.000

1.209.856 1.056.533d) revenues other than those referred above

1) interests income on postal and bank accounts 836.581 1.970.2172) interests on receivables from Inland Revenue 260.000 405.0003) interests and other financial revenues 2.368.575 2.433.8344) default interests and Private Copy penalties 3.000 3

3.468.156 4.809.054

Total other financial revenues (16) 17.625.243 24.446.616

16

17) Interests and other financial chargesa) Interests and other financial charges (772.501) (16.706.885)

Total interests and other financial charges (772.501) (16.706.885)

17-bis) Profits and losses on exchanges ratea) exchange rate differences 347 (339)

Total profits and losses on exchanges rate (17-bis) 347 (339)TOTAL PROFITS AND FINANCIAL CHARGES (C) 16.853.089 7.739.392

D) ADJUSTMENTS OF FINANCIAL ACTIVITIES VALUE

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

RESULT BEFORE TAXATION 4.706.097 1.653.74222) INCOME TAXES

a) Current taxes- Ires 0 0- Irap 0 102.948

0 102.948b) taxes related to previous accounting periods

- previous accounting periods Ires 0 0- previous accounting periods Irap (102.948) 0

(102.948) 0b) Deferred taxes

- Assets 0 0- Liabilities 852.446 251.098

852.446 251.098

TOTAL INCOME TAXES (22) 749.498 354.046

23) RESULT OF THE ACCOUNTING PERIOD 3.956.599 1.299.696


17

CASH FLOW STATEMENT 2017 2016A. Financial flows deriving from the operating Activity (indirect method)

Profit (loss) of the accounting period 3.956.599 1.299.696Income taxes 749.498 354.046

Interests expense / (interests income) (6.498.311) (8.488.100)

(Dividends) (14.957.218) (21.307.759)(Capital gains)/ capital losses deriving from the activity disposal 586.438 16.101.504

1. Profit (loss) of the accounting period before income taxes, interests, dividends and capital gains/losses of activity disposal (16.162.994) (12.040.613)

Adjustments for non-monetary elements which did not have compensation in the net working capitalAllocations to provisions 5.190.148 5.730.280Amortizations of the fixed assets 7.966.995 5.622.277

Devaluations for sustainable value losses 389.358 350.505

Value adjustments of financial profits and losses of derivative financial instruments that do not involve monetary movement 0 0Other adjustments for non-monetary elements 6.377.373 4.895.240

2. Financial flow before the variations of the net working capital 19.923.874 16.598.302

Variations of the net working capitalDecrease /(increase) of the inventories 0 0Decrease/(increase) of the receivables from customers (77.323.492) (152.890.478)

Increase /(decrease) of the payables to suppliers (2.182.489) 353.649

Decrease /(increase) of the accruals and prepaid expenses 15.980.662 (16.990.900)Increase /(decrease) of the accruals and deferred incomes 148.647 255.397

Other variations of the net working capital 48.947.824 175.692.652

3. Financial flow after the variations of the net working capital (14.428.848) 6.420.320

Other adjustments Collected interests/(paid) 5.168.653 10.444.610

(Paid income taxes) 0 0

Collected dividends 2.800.000 4.287.635Use of funds (26.857.242) (20.737.449)

Other collections/payments (494.108) 0

4. Financial flow after the other adjustments (19.382.697) (6.005.204)

Financial flow of the operating Activity (A) (30.050.665) 4.972.805

B. Financial flows deriving from the investment activity

Tangible fixed assets(Investments) (1.970.820) (910.318)

Disinvestments 33.293 5.304

Intangible fixed assets(Investments) (5.823.859) (12.691.635)Disinvestments 75.022 0

Financial fixed assets(Investments) (1.932.476) (266.943.796)

Disinvestments 2.440.028 140.699.429

Non-fixed financial assets(Investments) 0 0Disinvestments 0 112.930.000

Financial flow of the investment activity (B) (7.178.812) (26.911.016)

18

CASH FLOW STATEMENT 2017 2016C. Financial flows deriving from the financing activity

Third parties meansIncrease/(decrease) short terms payables to banks (570) (267.754)Allocation of loans 0 0(Refund of loans) 0 0

Own meansPayment capital increase 0 0(Refund of capital) 0 0

Disposal/(purchase) of own shares 0 0Dividends (and advances on dividends) paid 0 0Financial flow of the financing activity (C) (570) (267.754)

Increase (decrease) of cash (a ± b ± c) (37.230.048) (22.205.965)

Exchange rate effect on cash 0 0

Cash at January 1 245.388.934 267.594.899

Cash at December 31 208.158.886 245.388.934


19

Separate accounts

Solidarity Fund

Balance sheet 2017 2016AssetB) FIXED ASSETSIII) Financial fixed assets

2) Receivables:

d) from others 1.190.949 0

3) Other securities:

b) securities SF 0 0d) securities "Real Estate" SF 31.200.000 31.200.000e) securities "Financial Fund" 60.000.000 60.000.000

Total Financial fixed assets (III) 92.390.949 91.200.000TOTAL FIXED ASSETS (B) 92.390.949 91.200.000

C) CURRENT ASSET

II) Receivables- receivables from others 0 32.077

Total receivables (II) 0 32.077

IV) Cash1) Bank and postal deposits 5.403.537 2.705.048

Total Cash (IV) 5.403.537 2.705.048TOTAL CURRENT ASSET (C) 5.403.537 2.737.125

D) ACCRUALS AND PREPAID EXPENSESa) Accruals and prepaid expenses 0 1.667.327TOTAL ACCRUALS AND PREPAID EXPENSES (D) 0 1.667.327

TOTAL ASSET 97.794.486 95.604.452

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 81.392.742 81.494.5384) permanent reserve 2.866.024 2.866.024

Total funds for risks and charges 93.569.187 93.670.983TOTAL FUNDS FOR RISKS AND CHARGES (B) 93.569.187 93.670.983

D) PAYABLESg) different payables

1) different payables 4.225.299 1.933.4692) payables due to SIAE 0 0

TOTAL PAYABLES (D) 4.225.299 1.933.469

TOTAL LIABILITIES 97.794.486 95.604.452

20

Revenues and expenditures 2017 2016A) PRODUCTION VALUETOTAL PRODUCTION VALUE (A) 2.415.244 2.493.766

B) PRODUCTION COSTS

Management and functioning costs 504.787 251.455Staff 138.748 79.633Other management charges

- associates ordinary contributions 1.289.010 911.050- provision for the solidarity performances restricted fund 0 656.674- various charges 32.376 300

Total other management charges 1.321.386 1.568.024TOTAL PRODUCTION COSTS (B) 1.964.921 1.899.112

DIFFERENCE (A-B) 450.323 594.654

INCOMES AND FINANCIAL CHARGESOther financial revenues

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

Total other financial revenues 0 0Interests and other financial charges

- interests and other financial charges 0 0

Total interests and other financial charges 0 0

TOTAL REVENUES AND FINANCIAL CHARGES (C) 0 0

RESULT BEFORE TAXATION 450.323 594.654

Current taxes- Ires 450.323 594.654- Irap 0 0

Total income taxes 450.323 594.654

RESULT OF THE ACCOUNTING PERIOD 0 0


21

Endorsement Management

2017 2016- Receivables/(payables) of SIAE 817.816 709.341

Revenues and expenditures 2017 2016PRODUCTION VALUERevenues from sales and performances

- Endorsement rights 3.063.341 3.322.198- other revenues 0 800.000- administrative rights 6.876 0

TOTAL PRODUCTION VALUE (A) 3.070.217 4.122.198

PRODUCTION COSTSManagement and functioning costs 1.347.801 1.916.098Staff 1.393.526 1.326.278Different management charges

- risks and charges provision 0 0- other management charges 179.270 199.633

Total different management charges 179.270 199.633

TOTAL PRODUCTION COSTS (B) 2.920.597 3.442.009

DIFFERENCE (A-B) 149.620 680.189

REVENUES AND FINANCIAL CHARGES 0 0

RESULT BEFORE TAXATION 149.620 680.189Current taxes

- Ires 41.145 187.052- Irap 0 0

Total income taxes 41.145 187.052

RESULT OF THE ACCOUNTING PERIOD 108.475 493.137

22

Project "SILLUMINA"

2017 2016- Receivables/(payables) of SIAE 15.785.288 6.504.700

Income Statement 2017 2016A) PRODUCTION VALUE5) Other incomes and revenuesc) other revenues- Expenses reimbursement Ban 1- Urban peripheries 2.782.500 1.893.000- Expenses reimbursement Ban 2- New works 1.855.000 1.262.000- Expenses reimbursement Ban 3- Artistic residencies and training 1.855.000 1.262.000- Expenses reimbursement Ban 4- National and international live 1.855.000 1.262.000- Expenses reimbursement Ban 5- Translation and distribution abroad 927.500 631.000- Expenses reimbursement cultural Activity management costs 324.678 250.000

Total other incomes and revenues (5) 9.599.678 6.560.000TOTAL PRODUCTION VALUE (A) 9.599.678 6.560.000

B) PRODUCTION COSTS7) For servicesd) professional and technical services1) administrative, technical and legal services- Cultural Activity commission fees 135.000 121.714- Cultural Activity social security contributions 0 3.286- Cultural Activity expenses reimbursements 0 1.864- Professional services 0 0- Accountant certification 40.000 25.000

175.000 151.864e) different services- Advertising and sponsorships 149.678 98.136

149.678 98.136

Total for services (7) 324.678 250.000

14) Different management charges

d)Siae 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 2.782.500 1.893.000- Contribution cultural Activity Ban 2- New works 1.855.000 1.262.000- Contribution cultural Activity Ban 3- Artistic residencies and training 1.855.000 1.262.000- Contribution cultural Activity Ban 4- National and international live 1.855.000 1.262.000- Contribution cultural Activity Ban 5- Translation and distribution abroad 927.500 631.000

9.275.000 6.310.000

Total different management charges (14) 9.275.000 6.310.000TOTAL PRODUCTION COSTS (B) 9.599.678 6.560.000

RESULT OF THE ACCOUNTING PERIOD 0 0


23

b) Description of the activities performed throughout the accounting period

The events that characterized the accounting period are commented in the Management Report

reported in the Financial Statement (published on the website www.siae.it) to which reference is made.

It is considered useful to specify the most significant corporate information.

The structure:

- 1137 employees (1211 in 2016): it has to be

considered that from January 1, 2018 other

16 employees resigned after accepting a

voluntary redundancy

- 1 Directorate General in Rome

- 461 Agents

- 10 regional / inter-regional Offices

- 28 Branches

2017 economic data:

- € 776 millions of turnover

- € 723 millions from Copyright and other intermediation services

- € 681 millions the rights allocated/paid to the right-holders (including the Private Copy);+ €25

millions, equal to +3,8% compared to 2016

- 15,3% the average commission applied on collections

- € 120 millions in taxes paid to the tax authority (IVA, IRPEF, etc.)

- € 1,3 millions paid in solidarity contributions

- 234 assigned scholarships

- € 9,3 millions on the project SILLUMINA (Private Copy)

- € 3,6 millions in cultural provisions to apply on special sectional accounts

- € 0,8 millions in social and cultural grants

24

Copyright management:

- 87.453 Authors and Publishers who are member of SIAE with 11.215 applications in 2017

- 14,5 millions of works directly managed

- 55 millions of works managed through reciprocal representation contracts

- 270 agreements with foreign companies for the management of the SIAE repertory in the world

and of the foreign repertory in Italy

- 1,2 millions of licensing contracts (public performance and representation, background music,

TV, online radio, CD/DVD, etc.)

- 540.000 users of the SIAE repertory on the territory

- 493.000 clubs on the territory

- 1.700.000 events a year (4600 events each day)

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

In 2017 SIAE did not refuse to confer licenses (except the cases of withdrawal or failure to release due

to the users non-fulfillment of the conditions established in the licenses themselves, or due to the

denial set by the adherents to whom this faculty has been reserved in relation to the nature of the

right).

In this regard, the licenses are conferred according to the conditions published on the corporate

website www.siae.it.

d) SIAE Legal and governance structure

SIAE is a public economic body with a membership organization, ruled by the Act January 9, 2008 no.2.

In particular, the article no. 1, subparagraph 2, says that SIAE activity is regulated by the rules of private

law.

The year 2017 – at the end of a process started in 2016 according to the art. 20 of the Act of August 12,

2016, no. 170, which contains the standards for the transposition of the Directive 2014/26/UE – saw the

approval of the Legislative Decree of March 15, 2017 no. 35, published on the Official Gazette of the

Italian Republic of March 27, 2017, no. 72, for the transposition into national law of the afore-mentioned

Directive regarding the collective management of copyrights and connected rights and the conferment

of multiterritory licenses for rights on musical works for the online utilization in the internal market

(came into effect on April 11, 2017), a provision of particular importance for the organizational,

regulative and operative framework of the Company.

Strictly connected (as partially amends the afore-mentioned Legislative Decree no.35/2017) is the

article 19 “Liberalization of copyright collecting” of the Legislative Decree October 16, 2017 no. 148,


25

“Urgent dispositions in financial matters and for non-delayable needs” (published in the G.U. S.G. no.

242 of October 16, 2017) converted by the Act December 4, 2017, no. 172 (published in the G.U. S.G. no.

284 of December 5, 2017), with which – essentially through a modification applied to the article 180 of

the copyright law – other collective management companies set out in the Legislative Decree March 15,

2017, no.35 are put next to SIAE in the execution of copyright intermediation activities.

It should be noted that the text of the art.19 - approved by the Senate and the Chamber- did not register

modifications during the entire parliamentary process comparing to the one originally approved by the

Government.

The Company updated the Memorandum of Association (approved with Ministerial Decree on March 16,

2018) and the general Rules.

In the end, SIAE is a “generalist” management body whose rights intermediation activity regards all the

artistic fields, currently divided into five specific sections: Music, Dor, Olaf, Lyric and Cinema.

The financial resources needed for the realization of the SIAE purposes only come from the activity

carried out.

Therefore, SIAE does not use – neither directly nor indirectly – any transfer, grant, loan or utility which

burden on the State or on any other public entities or organisms accounts.

The results of the economic and financial management do not contribute neither to the requirement

nor to the indebtedness of public administrations. Therefore, SIAE is separated from the public finance

sector.

SIAE Memorandum of Association is published on the corporate website www.siae.it.

The Memorandum of Association outlines the corporate organization and Governance.

The SIAE Governance is completely committed to the bodies elected by the Associates (Assembly,

Supervisory Board, Management Board and Section Committees). All the choices in the strategic and

administrative sectors, are operated by the associates.

The Company’s bodies are the Assembly (from art. 12 to 14 of the Memorandum of Association), the

Supervisory Board (from art. 15 to 17), the Management Board (from art. 19 to 23) and the Audit

Committee (art. 24).

Article 18 of the Memorandum of Association disciplines the Advisory Committees, five in total, one for

each Section in which the Company is articulated.

It is also contemplated the statutory auditing (art. 25) and the adoption of an organization and

management Model able to prevent crimes, pursuant to the Legislative Decree no. 231/2001, with the

establishment of a Supervisory Body with initiative and supervision powers of its own (art. 27).

Although SIAE is separated from the public finance, the President of the Supervisory Body is a

magistrate of the Court of Auditors and the Minister of Culture and Tourism, together with the

President of the Council of Ministers, exerts the supervision on SIAE. The supervision is operated with

the Minister of Economy and Finance for the matters that regard his specific competence.

26

Supervisory Bodies

SIAE’s internal rules are available on its website. Of particular note are:

- the Company General Rules (art. 38 of the Memorandum of Association), which also contains

the rules of the Sections in which SIAE is articulated, and the conciliation and arbitration

procedures;

- the ethical or behavior Code (art. 38 of the Memorandum of Association), which disciplines the

rules regarding the conduct of all the staff that operate in various ways for the Company, as

well as the one of the associates and principals;

- the Model 231/2001.


27

e) Entities directly or indirectly owned or controlled by SIAE

A. Norma Fund - SIAE, on December 31, 2017, holds no. 1.658 shares (equal to the 100% of the

issued shares) for a total net value of € 177.398.681 (unit share value € 106.995,586) of the

closed-end Common Real Estate Investment Fund “Norma”, reserved for institutional investors

and established on December 19, 2011. The Fund subscribed capital as of December 31, 2017,

amounts to € 164.609.996, corresponding to 1.658 shares.

B. Aida Fund – At the end of the year 2012, the Norma Fund acquired the Real Estate AIDA Fund.

This Fund started to operate in 2011 with an initial subscribed patrimony of € 63.900.000

divided into 639 shares with a unit value of € 100.000. Today, the Fund has a subscribed

patrimony of € 79.073.964. The Fund total net value as of December 31, 2017, is equal to

€75.702.955 (no. 796 shares whose unit value is equal to € 95.104,215).

C. Armonia – SIAE joins the European Economic Interest Grouping (EEIG) “Armonia” created in

April 2013 in order to simplify the release of pan-european licenses, offering a single hub for

the utilization of the repertories that these represent, along with the transparency and the

efficiency goals required by the European Union Directive 2014/26/UE on the collective

management of rights. The membership fees for the 2017 accounting period amount to

€180.205.

D. Fast Track (F.T. the digital copyright network) – Is a simplified Limited Company of which SIAE

holds the 9,84% of the shares for a total value of € 3.642. The statutory target is to connect the

databases of the different companies making them interoperable. F.T. is a technology provider

that realizes solutions for the benefit of the partners and the Cisac community, aimed at the

improvement of the copyright management in terms of accuracy of the information and

interchange speed.

E. RAI and MEDIASET - SIAE holds RAI shares for a budgetisation value equal to € 130.887 and a

nominal value equal to € 1.071.100 (0,44% of the relative share capital). SIAE also owns Mediaset

shares (0,0006% of the share capital) with a nominal and balance sheet value equal to € 3.615.

F. Nabucco Fund – On October 2, 2014, the SIAE Solidarity Fund subscribed no. 312 shares with a

total value of € 31.200.000 (unit share value of € 100.000,00) of the closed-end Common Real

Estate Investment Fund, reserved to institutional investors. The Fund total net value as of

December 31, 2017 amounts to € 32.465.225 (no. 312 shares of nominal value equal to €

104.055,208).

G. Pentagramma Fund – On August 3, 2015, SIAE subscribed no. 2.950.000 shares of the SICAV-

SIF Indaco Pentagramma for a total value equal to € 295.000.000 (unit share value of € 100).

On December 31, 2015, other 595.474,394 shares were subscribed (unit share value of € 100,76)

bounded to the management of the Solidarity Fund, which total value amounts to €

60.000.000. On May and June 2016 other 1.166.747,690 shares were subscribed, which unit

share value is equal to € 102,85 each (total value equal to € 120.000.000) and no. 1.366.386,882

shares which nominal value amounts to € 102,46 (total value equal to € 140.000.000) SIAE owns

28

the 100% of the Fund shares, whose deposit is committed to the Profilo Bank and the Fucino

Bank. Therefore the total value of the Fund as at December 31, 2016, amounts to € 615.000.000.

H. BIEM - SIAE is vice-president of BIEM (Bureau International des societes gerant les droits

d’Enregistrement et de reproduction Mecanique), an organization located in Paris, composed

by 51 companies representing 120 countries in the field of mechanical reproduction rights and

whose main purpose is to ensure the recognition and the effective protection of these rights

through the negotiation of standard contracts with the IFPI (International Federation of

Phonographic Industry). which represents the phonographic industry, in order to establish the

conditions for the utilization of the repertories managed by the Companies of the Authors. It

also deals with the assurance of technical collaboration within its members. As a non-

governmental organization, the BIEM represents and defends the interests of its supporter

companies among the international institutions. SIAE holds a share (€ 15,24) of the share capital

(€ 411) of the BIEM.

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

During the 2017 accounting period the remunerations granted to the SIAE corporate bodies were as

follows:

- € 330.714 to the Supervisory Board;

- € 180.000 to the Management Board;

- € 160.000 to the Board of Auditors.

It should be noted that the Memorandum of Association (art. 8) specifically regulates the determination

of the remunerations of the afore-mentioned corporate bodies.

The following remunerations were also provided to other controlling bodies:

- € 140.000 to the Supervisory Body 231/2001;

- € 160.000 to the Auditing Firm.

It is stated that in 2017 SIAE also paid a total of € 57.202 to the Section committees and € 12.000 to the

Disciplinary Board, always within the limits imposed by the Memorandum of Association (art. 11).

g) Financial information referred to in point 2

In the following point 2 of this document are presented:

- the collections received and the connected commissions withheld during the accounting

period;

- the Income Statements divided between the author management and the other managements

of SIAE;

- the Income Statements divided into repertory, category and typology;

- the financial flows connected to the distribution process of each repertory and typology;


29

- the cash flows divided into repertories;

- the balances of the operations intervened with the other Collective Management

Organizations. The details of these operations are reported in the appendix of the present

document (Annex 1).

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

educational purposes

In compliance with what is required by the art. 28, subparagraph 3 and the related Annex (point 1 h) 3

a) b)) the requested information are exposed below.

SIAE supports the cultural activities related to the valorization of all the sectors where its mission to

grant the copyright is developed, with the ambition to become first of all a nursery for projects and

ideas that promote the creativity, especially for young authors, overcoming its more traditional role of

economic sponsor for festivals and events. In order to pursue this target, within the Music Division and

the Cinema, DOR-Lyric and Olaf Sections specific support lines were established (so-called “sectional

funds for cultural promotion”).

For this purpose, SIAE’s main targets are aimed at facilitating and supporting the spread and the

exchange of the Italian artistic culture, not only on the national territory but abroad too, through

promotional activities, specific agreements, development of international relations and training events

and fundings.

Thanks to the funds for cultural promotion, SIAE sustains various projects such as bans for the

development of screenplays, training courses and scholarships for young authors, events and reviews

throughout Italy. These initiatives reach all kind of public, in the cities, in the suburbs, in schools of all

types and levels, up to hospitals and jails, making accessible and usable for everybody the cultural asset

that SIAE guarantees, but also contributing to a culture of social inclusion, through a peaceful

coexistence not only among cultures, but mostly among different social conditions.

The cultural projects sustained and realized thanks to the contribution of the funds have 5 principal

common grounds: young authors, editors and editorial start-up, training, internationalization,

digitalization and valorization of cultural industry in all its artistic expressions. Some of these

praiseworthy cultural, social and educational initiatives would have never seen the light without SIAE

contribution.

Through the writing, the language, the sound, new technologies and web, SIAE wants to bring to the

fore the creative and authorial work of young authors who are interested in the music, TV and cinema

world, exploiting the synergies between modern technologies and available platforms, creating spaces

and occasions to promote the circulation of ideas, methods and new targets.

That’s exactly with the economic sustain to festivals and events on the territory that SIAE contributes

to the creation of contact, visibility and, not the least, work opportunities for those who work in the

sector: occasions that make SIAE closer to everybody.

The resources that sustain these sectional funds mostly regard rights related to the public performance

and representation, including the cinematographic one, the communication to the public through radio

and television broadcasting done with all kind of means, the rights related to the record on every audio

30

and video reproductive support, the reproduction rights realized through photocopies or similar

system.

Moreover, in 2017 SIAE destined 0,85 millions of euros (equal to the 0,90%) to the support of cultural,

social and educational initiatives.

With the MIBACT patronage, starting from 2016 SIAE supports the project SILLUMINA that provides the

distribution of the 10% of the private copy compensation in activities that increase the youth creativity.

In October 2017, the 5 bans of the second edition of the SILLUMINA private copy for young people were

opened, for the culture addressed to individuals, companies, agencies and associations that present a

project for the support of authors, performers and interpreters under 35.

With the funds for cultural promotion of Music Division in 2017, was defined the project “Italia Music

Export”, a structure created by SIAE with the intention to facilitate, sustain and support the Italian

music spread abroad. The initiative is aimed at musicians, authors, composers, record labels, managers

and, more generally, at the Italian Music Business world through a promotional activity, specific

agreements, development of international relations and training events and fundings.

Moreover, it is worth highlighting that the Distribution Order of the Music Division provides a deduction

equal to the 5% on the net incomes realized with the musical performances, to be allocated in favor of

the SIAE associates, whose works are assigned to the Division itself. The deduction is made respecting

what is contemplated in the mutual representation contracts with foreign companies, or in the

contracts between entities that represent the right-holders; the related amounts are only used for

welfare and encouragement of national art purposes. Today, the relative Fund counts more or less 33

millions of euros.

It has to be pointed out that, through the Solidarity Fund too, SIAE supports the less lucky authors.

The utilization of the resources based on its purpose is summarized in detail:

SIAE FOR THE SOCIALProgetti ospedali pediatrici : Sanremo 1.000 Special Stage 11.000Natale 2017 Donazione per Fabrizio Pinna 2.000 Tensostruttura (SIAE per Amatrice) 12.000Radio Sociale 3.000 Progetto Centro Sperimentale (SIAE per Amatrice) 15.000Bulli stop 4.000 Upside Down 15.000Leporello 5.000 Cinemanchio 15.000Premio Musica contro le Mafie 5.000 Il Vento del Nord 15.000Ass.Susan G.Komen Italia onlus 5.000 Festival del Silenzio 15.950Bulli stop-Centro nazionale contro il bullismo 5.000 Festival RisorgiMarche 20.000Web Radio Rossellini e Radio Battaglia Norcia 6.200 Il jazz italiano per le terre del sisma 25.000Sistema Orchestre giovanili e infantili 8.000 Partita del cuore 2017 29.950ProgettI ospedalI pediatrici: Bambin Gesù 9.042 Premio Solinas 30.000La cugina detective 10.000 Il jazz italiano per le terre del sisma (Ass. I-jazz) 45.000Oltre il carcere – Scrittura scenica 10.000 Insieme per la musica - Ass. mus. citta' dell'Amatrice (SIAE per Amatrice)50.000Teatro in fuga 2018 10.000 Noi qui concerto Claudio Baglioni 50.000Il Salone dell’editoria sociale 10.000 Fondazione A.Bocelli-Ricostr.Istituto G.LEOPARDI 50.000Festival Restart antimafia 2017 10.000 Co2 Mussida – fase 5 70.000Orchestra sinfonica Quartieri Spagnoli 10.000 Contributo sisma Mandatari 86.400Progetti ospedalI pediatrici: Meyer 10.000 Progetto Amatrice nel cuore (SIAE per Amatrice) 95.000Fondazione Telethon 10.000 Una Biblioteca per Scampia 100.000Figari Film Festival 10.000 Premio Goliarda Sapienza 110.000Atelier Farnese 10.000

TOTAL 1.013.542


31

SIAE FOR THE CULTUREFuorinorma 1.500 I diritti dell’autore comico 15.000Officina Verdiana 2.000 Kilowatt Festival 15.000Spring attitude 2017 2.000 Mediterriamo 15.000Demia research 2.000 Festival Ravenna jazz 2017 15.000Rassegna d’Amore e d’Autore 3.000 Genova per voi 2017 15.000Rapporto annuale Federculture 3.000 Animaphix 15.000Strings city 3.000 Esco! Sudtitles 15.00060° Festival dei due mondi di Spoleto 3.500 Ortigia Film Festival 15.000Enciclopedia SIAD - Autori e drammaturgie 4.650 Visioni dal mondo 15.000Festival Baby Voice 5.000 Steno-L'arte di far ridere 15.000Premio Andrea Parodi 5.000 Tramedautore 17.000Soundtrack Stars Award 5.000 Concerto 1^maggio 20.000Premio Malerba 5.000 Premio Bindi 20.000Piano city Milano 5.000 Ariston Comic Selfie 20.000Festival Intern.le di Letteratura e Cultura Ebraica 5.000 Vedete sono uno di voi- Ricordo del Cardinal Martini 20.000Festa della Musica - Il mestiere dell'autore 5.000 Indiegeno Fest 2018 20.000Capalbio libri 5.000 Promo Sanremo Città della musica 2017 20.000Reate festival 2017 5.000 Teatro No'hma 20.00054° Festival Nuova consonanza 5.000 Vorrei che fosse Amurri 20.000Meraviglioso Modugno 2017 5.000 Cartoon Club 20.000Letterature-Festival internazionale di Roma 5.000 Le vie del cinema da Cannes a Roma e in regione 20.000Il Circolo in streaming 5.000 Libero Cinema in Libera Terra 20.000Tivoli chiama! Festival delle arti 5.000 Noir in festival 20.000Rassegna musiche in mostra XXI ed. 5.000 1M NEXT 25.000Il club dei 27 5.000 Festival internazionale della danza 25.000Accademia Festival di Ghedi 5.500 Autori under 35-radio2 social club 25.000Giovani in jazz 6.500 Una striscia di terra feconda 25.000Premio Donida 7.000 Radio 2 Social club 25.000Rock Contest 8.000 Aperossa romana 25.000Club to Club 10.000 Premio Città di Mantova – Cinema d’Arte 25.000Musicultura 10.000 L'industria del doppiaggio in Italia 25.000Indiegeno Festival 10.000 Una striscia di terra feconda 25.230Premio Bertoli 10.000 Festival Sanremo Rock - XXX edizione 30.000Premio Lunezia 10.000 Ho giurato di non restare in silenzio 30.000Roma Sinfonietta 10.000 Standing Ovation Modena 30.000Time in Jazz 10.000 Talenti on stage 30.000Sicilia In- Concorso di danza internazionale 10.000 Il Mese del documentario 30.000Honoring Gianfranco Rrosi-Los Angeles Italia 2017 10.000 Premio Fondazione David di Donatello 30.000Il cinema ritrovato 10.000 Il mese del documentario 30.000 Ostia Festival "Il mito e il sogno 2017" 10.000 Trastevere Rione del Cinema 35.000Ventana sur Buenos Aires Argentina 10.000 Campagna Oscar per “Fuocoammare” 38.000Premio Carlo Bixio 2017 10.000 Jazz Do It 50.000Gran premio internazionale del doppiaggio 2017 10.000 Festa della musica 2017 50.000Arcipelago 10.000 Lucca Summer festival 50.000

Follows on the next page

32

Through many projects and plans for cultural promotion SIAE destined more than 32 millions of euros

in order to support the creativity and the authors who were most in need, in a general framework in

which public and municipal support is constantly decreasing. The deductions made on the musical

performance rights have not been used yet.

SIAE FOR THE CULTUREFestival Itala 10.000 Linecheck 55.000Ischia Film Festival 10.000 Giornate degli Autori 55.000Racconti dal vero racconti dal mondo – Apollo 11 10.000 Un Tenco lungo un anno 60.000Settimana Internazionale della Critica 10.000 Riapertura della ex Sala Troisi in “Cinema Troisi” 60.000Umbrialand 10.000 Premio Carmelo Rocca 63.000Visioni fuori raccordo 10.000 Air – Artisti in Residenza 75.000Voci nell’Ombra 10.000 Festival di Castrocaro 75.000Rockol awards 2017 10.925 I love GAI – Lightobox 80.000Magia dell'Opera XII edizione 11.000 Dialogando con SIAE - Incontri basa ass.tiva 80.591Festival della comunicazione 2017 11.000 Proformat 2018 90.000Galà Mozart-Auditorium Parco della musica 12.000 Saranno famosi-concorso per commedie musicali 100.000Umbria jazz festival 2017 14.950 Italian Music Export 119.407Area Sanremo 15.000 Classici di Oggi 300.000MI AMI 15.000

TOTAL 2.719.753

SIAE FOR THE TRAININGRadio Istituto Panetti 731 Spazio ai Giovani Autori – Milano Mon Amour 10.000Massimo Boario – Composizione marcia per banda 1.000 Torino Short Film Market 10.000Radio Rossellini 3.660 Ventotene Film Festival 10.000Welcome to Canadian Music Week focus on Italy 4.000 Borse di studio (SIAE per Amatrice) 12.200Le Voci di Cartoonia 4.000 Officine della Musica 15.000Roma Web Fest – corsi universitari 4.000 Un teatro di storie 16.500Nordic Film 4.974 CNR – Centro DONNE e Audiovisivo 18.000Creuza de Ma’ 5.000 Festival del Cinema e della TV di Benevento 20.000Teatro e scrittura 5.000 Giovani Autori 20.000Roma Web Fest – workshop 6.000 Laboratorio di Filmmaking 20.000Dominio Pubblico 7.000 Premio Zavattini 20.000A scuola con l’Orchestra di Piazza Vittorio 8.000 Workshop Showrunner 20.000Premio Michele Mazzella 9.500 Biblioteca per Elisa 22.991Master Cinema e Televisione – Suor Orsola Benincasa 10.000 Script 25.000Master in Filmmaking Ca’ Foscari 10.000 CSC – Borse di studio 25.000Tradizione – Il teatro di domani 10.000 FilmAp 25.000A.GI.MUS. – Concorso di composizione 10.000 Officina delle arti Pier Paolo Pasolini 30.000Canto italiano 10.000 Accademia Nazionale Silvio D’Amico 30.000La tribu' dei lettori - Scelte di classe 10.000 Series Lab 40.000Scuola di musica Pentakaris 10.000 Più libri più liberi 50.000Nastri d’Argento 10.000 Palcoscenico della legalità 55.000Salina Doc Fest 10.000 Campus Band Musica e Matematica 100.000

TOTAL 747.556


33

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

a) Financial information regarding the rights incomes – Premise

A. Collections – The amounts received by the Company deriving from the collection services do not

represent an income detectable in the Income Statement.

These amounts (or incomes) are intended to be divided between the Associates (and the principals)

and detected in the Financial Statement as “indebtedness” towards the Associates (and the

principals) themselves, without any prejudice to the fact that this definition (“indebtedness”) does

not represent neither “overbalance” nor financial requirement, but amounts intended to be divided.

In 2017, the total copyright collection recorded a decrease of 20 millions of euros as compared with

2016.

If we do not consider the backlogs that largely interested the previous financial years, the current

incomes result in line with those of 2016 and considerably improved as compared with 2015.

PROMOTIONAL, CULTURAL AND SOCIAL ACTIVITIES 2017

Solidarity deductions equal to 5% on musical performing rights collections 16.990.078

Project "SILLUMINA" 9.599.678

Solidarity Fund ordinary subsidies 1.289.000

Cultural initiatives promoted by the Section Committees 2.656.188

Cultural and training initiatives promoted by SIAE 811.121

Social initiatives 1.013.542

Total 32.359.607

Musical works: performing rights 399.151.913 72.337.328 18,1% 16.134.090 310.680.495 Musical works : reproduction rights 30.730.999 3.280.208 10,7% - 27.450.791 Musical works : private copy 28.480.333 854.410 3,0% - 27.625.923 Audiovisual works 48.168.113 5.090.934 10,6% - 43.077.179 Theatrical and Lyrical works 66.811.591 9.983.003 14,9% - 56.828.588 Literary works 7.707.256 957.973 12,4% - 6.749.283 Visual Art works 10.045.053 1.337.436 13,3% - 8.707.617 Rights from abroad 27.298.524 818.953 3,0% 855.988 25.623.583

Total collections 618.393.782 94.660.245 15,3% 16.990.078 506.743.459

Net to be distributedCollections 2017 Collections Allocated shares Allocated shares / Collections Cultural promotion activity deductions

34

541

566

654

55

50

48

30

22

6 8

0 100 200 300 400 500 600 700

2015

2016

2017

Copyright- Collections trend

Current collections Private copy - authors share Backlogged compensations Non-payment


35

In particular:

- The incomes related to the utilization of the musical works register an increase of about 6,3

millions of euros (+1,4% compared to 2016). The big concerts sector had an essential role with a

wide planning, both national and international. Particularly important was the “Vasco Rossi

Modena Park” event on July 1, 2017, which, with an amount of 225 thousand tickets sold, was

the world record event with the major affluence of paying audience.

- The copyright collection for audiovisual works shows an important decrease of about 22

millions of euros compared to 2016. As regards the private copying levy for television spots, the

positive result of 2016 transposed substantial pre-existing entries (not replicable) deriving from

the agreement with an important national private broadcaster. Moreover, it has to be

considered the payments interruption that occurred from a main TV operator.

As regards the distribution of the incomes it is noted that:

- Timing and criteria are deliberated by the Management Board following the opinion of the

Section Committees composed by the Associates;

- SIAE respects the timing referred to in art. 17 of the Legislative Decree no. 35/2017;

- If requested by the interested ones, SIAE assigns important advances, allowing the authors and

the editors to receive the payment of the copyright before the distribution operations.

B. Incomes – SIAE incomes consist of “allocated shares” that are withheld from the incomes as a

remuneration for administrative services (incomes, distribution, liquidation and payment of

copyrights) made for the Associates and the principals.

The incomes of the authors sector, together with the compensation for the services provided for

third parties under mandate or by law and together with other incomes, represent the revenues

exposed in the “production value”.

The production value, the financial incomes and the possible extraordinary incomes are intended

to remunerate the production factors and the other costs and management charges.

As mentioned above in the paragraph 1 a), the financial incomes are made from both the different

funding sources identifiable in the Liabilities of the Balance sheet (net capital, Funds for risks and

charges, debts) and the copyright management.

The financial incomes deriving from the copyright management are characterized by the natural

distinction between the collections and the distribution (the incoming flows deriving from the

collecting anticipate the outgoing ones in favor of the Associates), whose frequency and

distribution rules are determined by the Associates each year through the specific decrees

approved by the Section Committees (respecting the content of the Legislative Decree 35/2017).

36

The financial incomes, along with what happens for the majority of the other Collective

Management Organizations, concur at the coverage of the management operating costs.

SIAE allocated shares are withdrawn from the achieved incomes of the copyright holders. The

invoiced amounts based on the granted licenses, but not cashed, do not origin any deduction

because of the fact that the intermediation service is realized when the amounts are collected.

The commission is destined to the remuneration of the sustained operating costs after the

deduction of the complementary and ancillary revenues.


37

b) Financial information regarding the cost of rights management and other services provided by

the Company to the right-holders

In compliance with the Legislative Decree 35/2017, attached art. 28 subparagraph 2, Income

Statements are presented as follows:

1. Income Statement with a distinction between the Authors management and the other SIAE’s

managements (point 2, letter b 2) e 3)).

2. Authors Income Statement with a division for category of rights (point 2, letter b 1)) and a

division for the operating costs of each category and the indication of the resources that

contribute with the costs coverage.

The withheld allocated shares made from the collections and the financial incomes attributed to the

category contribute to the net operating costs coverage (operating costs minus ancillary revenues).

In the order:

1. Income Statement with a distinction between the Authors management and the other SIAE’s

managements (point 2, letter b 2) e 3)).

The report highlights the economic-financial independence of the two managements of SIAE in terms

of capacity to remunerate all the factors of production through the generated revenues and the

participation, limited to the Authors management, of the associates and the principals in terms of

commissions withheld from the collections.

SEPARATE INCOME STATEMENT 2017 AUTHORS OTHER SIAE MANAGEMENTS TOTAL SIAE

COLLECTIONS 618.393.782 = 618.393.782

OPERATING COSTSStaff 60.746.078 17.016.041 77.762.119

Agents 31.336.074 10.943.265 42.279.339

Management and functioning costs 32.123.021 25.017.656 57.140.677

Information technology services 5.944.456 1.478.973 7.423.429

Amortizations and devaluations 7.371.017 985.336 8.356.353Taxes and fees 203.474 546.024 749.498

TOTAL COSTS 137.724.120 55.987.295 193.711.415

Revenues for ancillary services 30.087.192 55.295.334 85.382.526

NET OPERATING COSTS 107.636.928 691.961 108.328.889

Allocated shares on collections 94.660.245 94.660.245

Financial revenues 16.271.717 1.353.526 17.625.243

RESULT OF THE ACCOUNTING PERIOD 3.295.034 661.565 3.956.599

38

2. Authors Income Statement with a division for category of rights (point 2, letter b 1))

As known, SIAE is a generalist Company in the sense that through the Sections it administers each kind

of creative expression in the music, cinema, theatre, lyric, literary works and visual art businesses.

MUSIC administers public performance rights, reproduction rights, communication, registration, digital

reproduction, multimedia, private copy (authors share). Along with the repertory management, it

collects the related rights and the various bodies’ membership fees.

CINEMA administers the private copying levy connected to the utilization of the cinematographic

works. It performs services regarding the collection of films’ and haunts’ insurance shares, the public

cinematographic register, etc.

DOR – LYRIC administers theatrical and lyrical works performing rights, reproduction rights,

communication, digital reproduction, multimedia, private copy (authors share). It performs equipment

rental services and critical editions.

OLAF administers the literary works and the visual art, in particular: act in public rights, publishing,

visual arts reproduction, resale right, lending, reproduction rights, communication, digital reproduction,

reprography, multimedia, private copy (authors share). It performs unpublished works registration

services and frontispiece marking.

With the afore-mentioned criteria were elaborated the Income Statements related to each repertory

presented in this document.

For each repertory, are identified the following categories and typologies.


39

REPERTORY CATEGORY TYPOLOGYMusic Performing rights Live & background

Broadcasting

Sound films

Multimedia

Abroad

Reproduction rights Reproduction

Broadcasting

Multimedia

Abroad

Other: private copy, etc.

Cinema Audiovisual works Broadcasting

Reproduction

Multimedia

Abroad


Dor-Lyric Lyrical works Representation

Reproduction

Broadcasting

Multimedia

Abroad

Other: private copy, rental, etc.

Theatrical works Representation

Reproduction

Broadcasting

Multimedia

Abroad


Olaf Literary works Acting

Rental

Reprography

Reproduction

Broadcasting

Multimedia

Abroad


Visual Art Reproduction

Broadcasting

Multimedia

Abroad

Resale Right


40

For each category and typology, is produced the following standard Income Statement, given below as

an example:

The economic data are produced by the analytical accounting system used by SIAE for many years now.

The economic data structuring consents to survey collections, revenues and costs directly on the

responsibility centers, on working processes and types, categories and managed repertory.

The whole data referred to the copyright constitutes the Authors Income Statement.

Things are done similarly for the detection of the other SIAE managements.

The allocation process detects the costs of the different organizational structures, while the accounting

segregation cycles at first direct the data on each specific working process and then on the

repertory/category and typology. This separation represents an additional management information.

The defined working processes are:

1. Licensing e collecting

2. Processing and distribution

3. Staff

4. Governance

The costs allocation of the licensing and collecting process to repertories/categories/typologies

follows the course underneath:

Total categoryA B C Repertory

COLLECTIONS

OPERATING COSTSStaff

Agents

Management and functioning costs

Amortizations and devaluations

Taxes 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 costs related to the territorial network are ascribed basing on a detection of the activities

used for the different businesses. The detection evaluates the documents issued by each structure,

their volume and the specific processing times. This way, the single operational structure activities

are measured (agencies, market control and development, debts collection) and that therefore

contribute in the stabilization of the importance to assign to the specific repertory/category and

typology. The importance level is also used to ascribe the costs of the other network agencies

(territorial and central).

- The costs of the Agents are mostly referred to the rights collection process and are directly

ascribed to a repertory/category and typology as a derivation of the collections. However, a part of

it is ascribed to the working process in proportion to the activity dedicated to the musical programs;

this portion is a percentage that is transferred from a process to another.

- The costs related to the central business structures are detected referring to a single cost center

of the operative units (sections, etc.) and at the same time on an object that identifies the

process/business. The importance of the operative units on the different categories and types of

right is used to impute the costs of other sectional and divisional agencies.

The attribution of processing and distribution costs is mostly referred to the central business

structures and is ascribed to a specific cost center and to an object that identifies the process and the

repertory/category and typology. The importance of the operative units is used to ascribe the costs of

other sectional and divisional agencies.

The cost related to the staff process is fed by all the charges detected on the cost centers of the

structures which offer services within the business (Staff, Management, Purchases and Logistic,

Information Technology, etc.), and are ascribed to the repertory/category and typology basing on the

entity of the staff cost overall detected for the collecting and processing process (cost to cost in the

line “Staff”).

The governance process detects the costs on the cost centers of the structures related to the social

bodies, Directorate General and assistance offices as well as those assigned on orders on which the

general business expenses converge (Income taxes, strategic management costs, etc.). These costs are

addressed on repertory/category and typology basing on the turnover.

Resources used for the costs coverage (point 2, letter b) 4))

The revenues deriving from ancillary activities linked to the author business concur, with a downward

modification of the operating costs, to the Income Statement of the repertory/category and typology,

and are attributed in accordance with their complementarity with the collection (for instance: the

administrative charges, the sanctions and the penalties follow the collection item they are invoiced

with, while the membership fees are assigned basing on the associates of the single sections, etc.).

42

The financial incomes are ascribed in terms of category and repertory. The imputation is made

according to the capacity of each category to produce financial sources (Reserves, Funds, debts net of

credits). The financial incomes concur at the coverage of the net operating costs.

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

SIAE, within the Music repertory, operates a deduction equal to 5% on the incomes deriving from

musical performance rights to destine in favor of the SIAE associates whose works are assigned to the

Music Division. The retention is made respecting what is disciplined by the contracts of mutual

representation with the foreign Author Companies, or by other contracts with bodies that represent

the right-holders; the corresponding amounts are only used for welfare and encouragement of national

art finalities. On December 31, 2017, the Fund amounts at about 33 millions of euros to use.


43

Deductions made on the collections (point 2, letter b) 6))

The deductions made on the 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 12,7%

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

12,7% -Video-musical reproduction (all channels General Permission, work by work licences)

9,325%

-Broadcast and recording by radio and tv broadcasters 12,7% -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 22,0% -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 representation 12,0% -Elaborated works performance or representation 22,0% -Elaborated works representation 22,0% -Broadcast and recording by radio and tv broadcasters 14,0% -Broadcast and recording by radio and tv broadcasters 14,0%

-Broadcast in public establishments with radio, tv and cable radio 22,0% -Broadcast in public establishments with radio, tv and cable radio 22,0%

-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 14,0% -Broadcast by radio and tv broadcasters 14,0%

-Broadcast in public establishments with radio, tv and cable radio 22,0% -Broadcast in public establishments with radio, tv and cable radio 22,0%

- 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

Lyric - Ballet Theatre

2017 - SIAE ALLOCATED SHARES

MUSICMusical performance rights Mechanical reproduction rights

DOR - LYRIC

44

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

The financial flows of the amounts destined to the distribution are structured as follows:

It should be pointed out that SIAE, compared to 2016, has improved the liquidation of rights of 40,5

millions of euros.

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

The 2017 Balance of Payments to and from abroad, points out a negative balance equal to € 71.164.585.

This is due to collections (net of the “commissions” withheld by the foreign companies) of € 27.298.524

which resulted much lower than the amount distributed to other foreign Collective Management

Organizations.

Flows to be allocated at January 1, 2017 848.304.407 Advances at January 1, 2017 (72.316.027)Fund for Music prepayments devaluations 295.947 Total at January 1, 2017 776.284.327 Net collections 2017 523.151.455 Amounts distributed in 2017 (556.567.262)Total at December 31, 2017 742.868.520 Flows to be allocated at December 31, 2017 825.317.951 Advances at December 31, 2017 (82.715.607)Fund for Music prepayments devaluations 266.176 Total at December 31, 2017 742.868.520

Collections Payments BalanceCINEMA 2.231.512 (9.281.294) (7.049.782)DOR 1.211.454 (424.451) 787.003LYRIC 74.842 (691.996) (617.154)OLAF 2.033.084 (2.307.407) (274.324)MUSIC 21.613.115 (85.757.961) (64.144.846)DIRECT MANAGEMENTS 134.518 134.518

Total 27.298.524 (98.463.109) (71.164.585)

ABROAD - Collections and Payments


45

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

Music85.758

Cinema9.281

Dor424

Lyric692 Olaf

2.307

SIAE€ 98.463

PAYMENTS ABROAD

amounts expressed in thousands of euros

Music21.613

Cinema2.232

Dor1.211

Lyric75 Olaf

2.033

Direct Managements135 SIAE

€ 27.299

COLLECTIONSfrom ABROAD

amounts expressed in thousands of euros

46

It is pointed out that each collecting company transfers the rights net of its allocated shares. On the

collections coming from abroad, SIAE restrains a commission equal to 3%.

More details can be found in the Annex to the document.

***

For a better exposure, the data regarding repertories, categories and economic typologies (Annex art.

28, subparagraph 2, p.2 b), the information regarding the distribution of the rights (Annex art. 28,

subparagraph 2, p.2 c), and the relationships with other Collective Management Organizations (Annex

art. 28, subparagraph 2, p.2 d), are reported in different chapters structured basing on the repertory.

Details regarding the balance of payments of each repertory are reported in the Appendix (Attachment

1).

It is pointed out that the implementation of the Directive during the 2017 accounting period has made

impossible to expose some specific data provided for in p. c) 4 and 5 (the indication of the accounting

period in which the collection of the not attributed and not distributed rights took place). Similar

information will be available starting from the next accounting period, with effects from 2017 onwards.

Similarly, what is provided for in points 6 and 7 will only be implemented in the future accounting

periods starting from 2018 onwards.

In particular, for a better comprehension of the data reported in the following tables made for each

repertory, see the logical scheme referred to the rights workflows set out in letter c).

***********

Transparency Report was drafted, in each significant aspect, according to the dispositions set out

in the Legislative Decree no. 35 of March 15, 2017.

The President

0

10

20

30

40

50

60

70

80

Collection netof the

allocatedshares

Culturalpromotion

activitydeductions

(5%)

Previousamount

Amounts to beallocated

Not allocated Allocated Notdistributed

Distributed Initialresiduals

Not paid Paid

Rights processing flow

MUSIC REPERTORY


www.siae.it

48

Collections 2017

Musical performing rights Gross collections Allocated shares % B/A Deductions for

cultural promotion activities

Collections to allocate (A-B)

A B C

Radio 12.400.343 1.574.661 12,7% 527.464 10.298.218

Television 77.883.244 9.889.353 12,7% 3.410.402 64.583.489

Satellite 13.678.323 1.729.491 12,6% 586.941 11.361.891

Music film 13.194.745 2.744.494 20,8% 522.513 9.927.738

Live music 144.732.957 28.820.307 19,9% 5.795.632 110.117.018

Mus. Mechanical instrument i. Discotheques 38.098.366 7.924.364 20,8% 1.508.700 28.665.302

Mus. Mechanical instrument ii. Other 82.645.626 18.002.840 21,8% 3.232.139 61.410.647

Online multimedia 16.518.310 1.651.818 10,0% 550.299 14.316.193

Total 399.151.914 72.337.328 18,1% 16.134.090 310.680.496

Mechanical reproduction rights Gross collections Allocated shares % B/A Deductions for



A B C

Radio 1.055.613 134.063 12,7% - 921.550

Television 11.420.720 1.450.399 12,7% - 9.970.321

Phonographic market i. National 12.007.594 1.077.669 9,0% - 10.929.925

Phonographic market ii. Centralized licenses 3.082.618 216.554 7,0% - 2.866.064

Videographic market i. National 1.063.561 191.436 18,0% - 872.125

Synchronisation rights - - 0,0% - -

Private Copy i. Audio 25.732.532 771.976 3,0% - 24.960.556

Private Copy ii. Video 2.747.801 82.434 3,0% - 2.665.367

Online Multimedia 1.899.725 189.971 10,0% - 1.709.754

Mobile Multimedia 201.168 20.116 10,0% - 181.052

Total 59.211.332 4.134.618 7,0% - 55.076.714

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



A B C

Musical repertory - musical performing rights 17.649.238 529.476 3,0% 855.988 16.263.774

Musical repertory - mechanical reproduction rights 3.963.877 118.915 3,0% - 3.844.962

Total 21.613.115 648.391 3,0% 855.988 20.108.736

TOTAL 479.976.361 77.120.337 16,1% 16.990.078 385.865.946


49

Workflows (ex Att. art. 28 lett. c) pts 1,3,4,5)

Financial Flow (ex Att. art. 28 lett. c) pt 2)

Music

Category name Amount destined

to be allocated Collected and not

attributed Attributed Not distributed Distributed

Frequency of distribution*

Musical performance - current 201.766.123 201.517.831 248.292 248.292 S

Broadcasting - current 121.073.843 116.085.660 4.988.183 4.988.183 S - A

Mechanical reproduction rights - current 14.668.114 13.864.408 803.706 803.706 S

Private copy - current 27.625.923 27.625.923 - - S

Abroad - current 20.964.724 14.554.200 6.410.523 6.410.523 S

Multimedia - current 16.757.297 13.818.580 2.938.717 2.938.717 S - Q

Previous amount Music 635.811.922 107.820.336 527.991.585 105.445.713 422.545.873 S - Q

Total 1.038.667.946 495.286.939 543.381.007 105.445.713 437.935.294

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

Distributed Initial residue Total distributed Paid Final debt

437.935.294 (54.711.880) 383.223.413 450.384.430 (67.161.016)

437.935.294 (54,711,880)

383.223.413 450,384,430

(67,161,016)

-100.000.000

0

100.000.000

200.000.000

300.000.000

400.000.000

500.000.000

Distributed Initial amount Total distributed Paid Final debt/(credit)

Financial flow

50

Detail of collected and not attributed rights (ex Att. art. 28 lett. c) pt 4)

Detail of attributed and not distributed rights (ex Att. art. 28 lett. c) pt 5)

Amounts received and payed to other Collective Management Organizations (ex Att.

art. 28 lett. d))

Audiovisual works Accounting periods in which these rights were collected and not attributed

Category name Previous accounting periods 2017 Total amount collected and

not attributed yet

Musical performance - current - 201.517.831 201.517.831

Broadcasting - current - 116.085.660 116.085.660

Mechanical reproduction rights - current - 13.864.408 13.864.408

Private copy - current - 27.625.923 27.625.923

Abroad - current - 14.554.200 14.554.200

Multimedia - current - 13.818.580 13.818.580

Previous amount Music 107.820.336 - 107.820.336

Total 107.820.336 387.466.603 495.286.939

Audiovisual works

Category Name Previous accounting periods 2017 Total amount attributed and

not distributed yet

Musical performance - - -

Broadcasting - - -

Mechanical reproduction rights - - -

Multimedia - - -

Abroad - - -

Private copy - - -

Previous amount Music 105.445.713 - 105.445.713

Total 105.445.713 - 105.445.713

Accounting periods in which these rights were attributed and not distributed

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

Mechanical performing rights

17.649.238 529.476 855.988 101.672 81.747.449 19.046.344 4.302.497

Mechanical reproduction rights

3.963.877 118.915 - 55.094 4.010.512 301.070 -

Other types of rights - - - - - - - Total 21.613.115 648.391 855.988 156.766 85.757.961 19.347.414 4.302.497

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


51

Financial information regarding the incomes and the costs related to the rights

management (ex Att. art. 28 c.2 lett. a) e b))

Total category

Live & Background*

Sound films*

COLLECTIONS 265.476.949 13.194.745 103.961.910 16.518.310 17.649.238 416.801.152

OPERATING COSTS 78.668.920 5.387.160 13.042.660 3.054.042 1.511.710 101.664.492Staff 33.415.071 2.442.321 5.293.102 1.362.525 644.442 43.157.461

Agents 22.662.151 1.151.723 2.618.931 110 35 26.432.950

Management and functioning costs 18.499.077 1.476.613 4.385.180 1.288.560 763.532 26.412.962

Amortizations and devaluations 4.010.278 311.987 702.260 397.193 97.661 5.519.378

Taxes and fees 82.343 4.516 43.187 5.653 6.041 141.740

OTHER REVENUES AND INCOMES 15.507.558 722.749 2.601.150 281.079 134.103 19.246.639Revenues for ancillary services 15.507.558 722.749 2.601.150 281.079 134.103 19.246.639

NET OPERATING COSTS 63.161.362 4.664.411 10.441.510 2.772.963 1.377.607 82.417.853

COPYRIGHT COMMISSION 72.281.173

FINANCIAL REVENUES 10.916.604

PERFORMING RIGHTS AUTHORAL MANAGEMENT RESULT 779.925

PERFORMING RIGHTS

Type of useMusical performance

Broadcasting Multimedia Abroad

Total category

Reproduction Broadcasting Multimedia Private Copy Abroad REPRODUCTION

RIGHTSCOLLECTIONS 16.153.773 12.476.333 2.100.893 28.480.333 3.963.877 63.175.209

OPERATING COSTS 3.026.419 1.565.233 388.430 1.053.430 339.518 6.373.030Staff 1.757.060 635.218 173.294 539.186 144.737 3.249.494

Agents 36.692 314.294 14 57 8 351.066

Management and functioning costs 1.073.097 526.260 163.886 412.014 171.483 2.346.739

Amortizations and devaluations 154.028 84.277 50.517 102.173 21.934 412.930

Taxes and fees 5.543 5.183 719 0 1.357 12.801

OTHER REVENUES AND INCOMES 357.380 312.161 35.749 120.378 30.119 855.787Revenues for ancillary services 357.380 312.161 35.749 120.378 30.119 855.787

NET OPERATING COSTS 2.669.039 1.253.072 352.681 933.052 309.399 5.517.243


FINANCIAL REVENUES 745.530

REPRODUCTION RIGHTS AUTHORAL MANAGEMENT RESULT 67.538

AUTHORAL MANAGEMENT TOTAL RESULT 847.462ANCILLARY SERVICES BALANCE 1.087.320MUSIC REPERTORY TOTAL RESULT 1.934.783

Type of use

CINEMA REPERTORY


www.siae.it

54

Collections 2017


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

A B C

Television 28.983.077 3.275.315 11,3% 25.707.762

Satellite 6.101.243 719.204 11,8% 5.382.039

Private Copy 10.236.081 716.526 7,0% 9.519.555

Other (DVD) 1.189.099 214.029 18,0% 975.070

Other (Multimedia other utilizations) 1.658.613 165.861 10,0% 1.492.752

Total 48.168.113 5.090.935 10,6% 43.077.178

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

A B C

Audiovisual repertory 2.231.512 66.945 3,0% 2.164.567

Total 2.231.512 66.945 3,0% 2.164.567

TOTAL 50.399.625 5.157.880 10,2% 45.241.745

Audiovisual works





Abroad 4.956.643 1.584.317 3.372.326 320.583 3.051.742 S

Broadcasting 91.562.712 39.792.118 51.770.593 26.568.104 25.202.490 S

Mechanical reproduction rights 3.162.566 899.007 2.263.559 1.121.788 1.141.772 S

Private Copy 26.787.558 14.802.310 11.985.248 8.769.124 3.216.123 S

Multimedia 3.753.573 3.415.263 338.310 89.204 249.105 S

Previous amount Cinema 13.489.949 11.209.413 2.280.536 - 2.280.536 -

Total 143.713.001 71.702.429 72.010.572 36.868.803 35.141.769





35.141.769 3.470.574 38.612.343 35.121.928 3.490.415

35.141.769

38.612.343

3.490.415

3.470.574 35.121.928

0

5.000.000

10.000.000

15.000.000

20.000.000

25.000.000

30.000.000

35.000.000

40.000.000

45.000.000


Financial Flow

Audiovisual works


not attributed yet

Abroad 3.054 1.581.263 1.584.317

Broadcasting 9.540.213 30.251.906 39.792.119

Mechanical reproduction rights 370.049 528.958 899.007

Private Copy 5.282.754 9.519.556 14.802.310

Multimedia 1.922.511 1.492.752 3.415.263

Previous amount Cinema 11.209.413 - 11.209.413

Total 28.327.994 43.374.435 71.702.428

Accounting periods in which these rights were collected and not attributed

56



art. 28 lett. d))

Audiovisual works


not distributed yet

Abroad 298.446 22.137 320.583

Broadcasting 25.667.313 900.791 26.568.104

Mechanical reproduction rights 1.104.137 17.651 1.121.788

Private Copy 8.769.124 - 8.769.124

Multimedia 89.204 - 89.204

Previous amount Cinema - - -

Total 35.928.225 940.579 36.868.803


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

Mechanical performing rights

1.959.611 58.788 - 1.900.823 7.274.443 936.847 -

Mechanical reproduction rights

271.901 8.157 - 263.744 2.006.851 264.643 -

Other types of rights - - - - - - - Total 2.231.512 66.945 - 2.164.567 9.281.294 1.201.490 -




Total category

Broadcasting Reproduction Multimedia Abroad Private CopyAUDIOVISUAL

WORKSCOLLECTIONS 35.084.319 1.189.099 1.658.613 2.231.512 10.236.081 50.399.625

OPERATING COSTS 1.312.138 520.023 860.114 832.665 488.867 4.013.807Staff 443.286 319.674 474.848 427.966 272.003 1.937.777

Agents 704 38 29 12 104 887

Management and functioning costs 806.018 169.152 298.097 364.315 188.628 1.826.209

Amortizations and devaluations 50.122 30.753 86.571 39.610 28.132 235.188

Taxes and fees 12.008 407 568 764 0 13.746

OTHER REVENUES AND INCOMES 1.370.584 112.649 103.411 85.395 101.054 1.773.092Revenues for ancillary services 1.370.584 112.649 103.411 85.395 101.054 1.773.092

NET OPERATING COSTS (58.446) 407.374 756.703 747.271 387.813 2.240.715



AUDIOVISUAL WORKS AUTHORAL MANAGEMENT RESULT 4.929.750ANCILLARY SERVICES BALANCE (731.414)CINEMA REPERTORY TOTAL RESULT 4.198.337

Type of use

DOR-LYRIC REPERTORY


www.siae.it

60

Collections 2017

THEATRICAL AND LYRICAL WORKS Gross collections Allocated shares % B/A Collections to allocate (A-B)

A B C

Theatre 24.004.212 2.908.239 12,1% 21.095.973

Radio 4.823.762 675.327 14,0% 4.148.435

Television 11.872.551 1.662.156 14,0% 10.210.395

Satellite 11.881 1.663 14,0% 10.218

Public establishments DOR - - - -

Other (Multimedia other utilizations) 20.526.492 4.515.542 22,0% 16.010.950

Mechanical reproduction rights 218.408 36.119 16,5% 182.289

Private Copy 4.728.910 140.664 3,0% 4.588.246

Public establishments Lyric - - - -

Rental and critical editions 625.375 43.293 0 582.082

Total 66.811.591 9.983.003 14,9% 56.828.588

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

A B C

Theatrical repertory 1.341.579 40.247 3,0% 1.301.332

Lyrical repertory 74.842 2.245 3,0% 72.597

Total 1.416.421 42.492 3,0% 1.373.929

TOTAL 68.228.012 10.025.495 14,7% 58.202.517


61


Dor





Theatrical representation 26.475.501 6.750.500 19.725.001 2.386.766 17.338.235 Q

Broadcasting 61.458.663 33.646.879 27.811.784 399.207 27.412.577 M - Q - A

Mechanical reproduction rights 304.137 90.231 213.906 20.076 193.830 Q

Private Copy 2.858.563 971.078 1.887.486 - 1.887.486 A

Abroad 2.379.291 662.865 1.716.426 46.063 1.670.363 Q

Multimedia 32.441 3.058 29.383 - 29.383 Q

Previous amount Dor 4.443.920 4.302.049 141.871 - 141.871 -

Total 97.952.516 46.426.660 51.525.857 2.852.112 48.673.744

Lyric





Theatrical representation 5.540.003 1.203.740 4.336.263 521.774 3.814.489 F

Broadcasting 5.822.218 2.783.032 3.039.186 57.932 2.981.254 F - A

Mechanical reproduction rights 110.048 33.832 76.216 4.084 72.132 F

Private Copy 1.747.894 999.177 748.717 - 748.717 A

Abroad 139.143 66.985 72.158 21.174 50.984 F

Rental and critical editions 786.075 287.089 498.986 498.986 F

Previous amount Lyric 1.272.404 1.298.929 (26.524) - (26.524) -

Total 15.417.786 6.672.784 8.745.002 604.964 8.140.037

Total 113.370.302 53.099.444 60.270.858 3.457.076 56.813.782


62


Repertory Distributed Initial residue Total distributed Paid Final debt

Dor 48.673.745 2.126.790 50.800.534 48.116.770 2.683.764

Lyric 8.140.037 373.754 8.513.791 8.111.623 402.168

Total Dor-Lyric 56.813.782 2.500.544 59.314.325 56.228.392 3.085.933

48.673.74550.800.534

2.683.764

2.126.790 48.116.770

0

10.000.000

20.000.000

30.000.000

40.000.000

50.000.000

60.000.000


Financial flow - Dor

8.140.0378.513.791

402.168

373.754 8.111.623

0

1.000.000

2.000.000

3.000.000

4.000.000

5.000.000

6.000.000

7.000.000

8.000.000

9.000.000


Financial flow - Lyric


63


Dor


not attributed yet

Theatrical representation - 6.750.500 6.750.500

Broadcasting 14.667.658 18.979.221 33.646.879

Mechanical reproduction rights 982 89.249 90.231

Private Copy 194.869 776.209 971.078

Abroad 6.771 656.094 662.865

Multimedia 1.488 1.569 3.058

Previous amount Dor 4.302.049 - 4.302.049

Total 19.173.818 27.252.842 46.426.660


Lyric


not attributed yet

Theatrical representation - 1.203.740 1.203.740

Broadcasting 355.525 2.427.507 2.783.032

Mechanical reproduction rights - 33.832 33.832

Private Copy 13.627 985.550 999.177

Abroad - 66.985 66.985

Rental and critical editions - 287.089 287.089

Previous amount Lyric 1.298.929 - 1.298.929

Total 1.668.081 5.004.703 6.672.784

Total 20.841.899 32.257.545 53.099.444


64



art. 28 lett. d))

Dor


not distributed yet

Theatrical representation 1.810.121 576.645 2.386.766

Broadcasting 363.087 36.120 399.207

Mechanical reproduction rights 20.076 - 20.076

Private Copy - - -

Abroad 44.445 1.618 46.063

Multimedia - - -

Musical execution - - -

Previous amount Dor - - -

Total 2.237.729 614.383 2.852.112


Lyric


not distributed yet

Theatrical representation 413.900 107.874 521.774

Broadcasting 57.932 - 57.932


Private Copy - - -

Abroad 21.174 - 21.174

Previous amount Lyric - - -

Total 497.090 107.874 604.964

Total 2.734.819 722.257 3.457.076


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

Mechanical performing rights 1.157.747 34.732 - - 422.878 53.919 - Mechanical reproduction rights 53.707 1.611 - - 1.573 - - Other types of rights - - - - - - - Total 1.211.454 36.344 - - 424.451 53.919 -

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

Mechanical performing rights 74.842 2.245 - - 691.996 51.920 - Mechanical reproduction rights - - - - - - - Other types of rights - - - - - - - Total 74.842 2.245 - - 691.996 51.920 - *The total amount of the sums received does not encompass the collections from the direct management foreign users (equal to 130.125 euros)




65



Total categoryRepresentation Broadcasting Reproduction Multimedia Abroad Private Copy LYRICAL WORKS

COLLECTIONS 4.007.206 3.330.037 49.687 0 74.842 1.786.663 9.248.435

OPERATING COSTS 1.005.760 713.639 237.127 173 361.248 9.041 2.326.989Staff 607.077 334.276 155.654 1 162.389 3.422 1.262.818

Agents 44.761 157.391 1 1 0 4 202.157

Management and functioning costs 298.488 187.302 67.861 152 185.197 5.239 744.240

Amortizations and devaluations 54.063 33.531 13.597 19 13.636 375 115.221

Taxes and fees 1.371 1.140 15 0 26 0 2.552

OTHER REVENUES AND INCOMES 105.915 119.284 20.030 486 21.365 2.861 269.942Revenues for ancillary services 105.915 119.284 20.030 486 21.365 2.861 269.942

NET OPERATING COSTS 899.845 594.356 217.097 (314) 339.883 6.180 2.057.047



LYRICAL WORKS AUTHORAL MANAGEMENT RESULT (812.136)

Type of use

Total categoryRepresentation Broadcasting Reproduction Multimedia Abroad Private Copy THEATRICAL WORKS

COLLECTIONS 19.997.006 33.902.256 169.369 1.744 1.341.579 2.942.247 58.354.201

OPERATING COSTS 7.020.180 6.284.829 664.231 18.108 759.920 19.474 14.766.742Staff 3.955.576 2.385.420 431.796 11.977 398.310 8.685 7.191.764

Agents 795.074 2.141.744 2 0 2 5 2.936.827

Management and functioning costs 1.878.849 1.469.887 190.867 5.041 324.863 9.862 3.879.368

Amortizations and devaluations 383.837 276.175 41.517 1.090 36.286 922 739.826

Taxes and fees 6.844 11.603 50 1 459 0 18.957

OTHER REVENUES AND INCOMES 1.113.262 1.739.018 77.311 2.113 78.357 4.937 3.014.999Revenues for ancillary services 1.113.262 1.739.018 77.311 2.113 78.357 4.937 3.014.999

NET OPERATING COSTS 5.906.918 4.545.811 586.920 15.995 681.563 14.537 11.751.743



THEATRICAL WORKS AUTHORAL MANAGEMENT RESULT (1.612.865)

AUTHORAL MANAGEMENT TOTAL RESULT (2.425.001)ANCILLARY SERVICES BALANCE* 21.114DOR-LYRIC REPERTORY TOTAL RESULT (2.403.886)*The ancillary services balance encompasses Rental and Critical editions (whose 2017 collections amount to 625.375 euros and the connected commissions amount to 43.293 euros).

Type of use

OLAF REPERTORY


www.siae.it

68

Collections 2017

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

A B C

Public recitation rights 1.413.677 242.986 17,2% 1.170.691

Radio 188.551 26.397 14,0% 162.154

Television 40.745 5.704 14,0% 35.041

Satellite 1.000 140 14,0% 860

Mechanical reproduction rights 61.748 8.445 13,7% 53.303

Reprography 2.628.899 525.779 20,0% 2.103.120

Private copy 2.310.635 69.319 3,0% 2.241.316

Public lending right 1.047.146 78.536 7,5% 968.610

Publishing rights 12.843 385 3,0% 12.458

Online multimedia 2.012 282 14,0% 1.730

Total 7.707.257 957.974 12,4% 6.749.283

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

A B C

Television 80.000 11.200 14,0% 68.800

Satellite 52.522 7.353 14,0% 45.169

Reproduction rights 577.693 72.212 12,5% 505.481

Resale right 6.729.352 1.159.554 17,2% 5.569.798

Private copy 2.524.484 75.735 3,0% 2.448.750

Offline multimedia 79.950 11.193 14,0% 68.757

Online multimedia 1.052 189 18,0% 863

Total 10.045.053 1.337.436 13,3% 8.707.617

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

A B C

Literary works repertory 399.244 11.978 3,0% 387.267

Visual art repertory 1.638.232 49.147 3,0% 1.589.084

Total 2.037.476 61.125 3,0% 1.976.351

TOTAL 19.789.787 2.356.535 11,9% 17.433.251


69



Literary works





Reading and acting 1.170.339 246.663 923.676 540.160 383.517 S

Broadcasting 4.497.650 1.157.438 3.340.212 2.252.237 1.087.975 S

Mechanical reproduction rights 226.719 27.034 199.685 138.753 60.932 S

Private copy 2.942.572 1.957.663 984.909 - 984.909 S

Abroad 1.274.526 373.630 900.896 241.345 659.551 S

Rental right 3.284.935 2.365.301 919.635 - 919.635 S

Reprography 12.254.558 2.103.120 10.151.438 8.030.965 2.120.473 S

Publishing rights 15.258 479 14.779 - 14.779 S

Multimedia 4.134 - 4.134 2.582 1.552 S

Previous amount OLAF 3.329.850 2.518.008 811.843 - 811.843 -

Total 29.000.541 10.749.334 18.251.207 11.206.042 7.045.165

Visual art





Broadcasting 1.965.511 89.220 1.876.291 1.836.783 39.508 S

Mechanical reproduction rights 921.672 241.346 680.327 40.339 639.988 S

Private copy 3.582.800 2.235.897 1.346.903 - 1.346.903 S

Resale right 12.176.042 3.061.165 9.114.877 3.503.329 5.611.549 S

Multimedia 104.194 36.311 67.883 7.792 60.091 S

Abroad 3.688.079 498.429 3.189.650 1.633.939 1.555.711 S

Total 22.438.298 6.162.367 16.275.931 7.022.181 9.253.749

Total 51.438.839 16.911.701 34.527.138 18.228.223 16.298.914



16.298.914 1.772.531 18.071.445 15.331.497 2.739.948

16.298.914

18.071.445

2.739.948

1.772.531 15.331.497

0

2.000.000

4.000.000

6.000.000

8.000.000

10.000.000

12.000.000

14.000.000

16.000.000

18.000.000

20.000.000


Financial flow

70


Literary works

Category name Previous Accounting

Periods 2017

Total amount collected and not attributed yet

Reading and acting - 246.663 246.663

Broadcasting 331.965 825.473 1.157.438


Private copy 528.881 1.428.782 1.957.663

Abroad - 373.630 373.630

Rental right 1.396.691 968.610 2.365.301

Reprography - 2.103.120 2.103.120

Publishing rights - 479 479

Multimedia - - -

Previous amount OLAF 2.518.008 - 2.518.008

Total 4.775.544 5.973.790 10.749.334


Visual art

Category name Previous Accounting

Periods 2017

Total amount collected and not attributed yet

Broadcasting 38.031 51.189 89.220


Private copy 894.573 1.341.323 2.235.897

Resale right - 3.061.165 3.061.165

Multimedia - 36.311 36.311

Abroad - 498.429 498.429

Total 932.604 5.229.763 6.162.367

Total 5.708.148 11.203.553 16.911.701



71



art. 28 lett. d))

Literary works

Category name Previous accounting periods 2017 Total amount attributed and

not distributed yet

Reading and acting 513.277 26.882 540.160

Broadcasting 2.252.237 - 2.252.237

Mechanical reproduction rights 128.485 10.268 138.753

Private copy - - -

Abroad 239.815 1.530 241.345

Rental right - - -

Reprography 8.030.965 - 8.030.965

Publishing rights - - -

Multimedia 2.582 - 2.582

Total 11.167.362 38.680 11.206.042


Visual art

Category name Previous accounting periods 2017 Total amount attributed and

not distributed yet

Broadcasting 1.803.111 33.672 1.836.783


Private copy - - -

Resale right 3.283.832 219.496 3.503.329

Multimedia 5.958 1.835 7.792

Abroad 1.618.897 15.042 1.633.939

Total 6.752.137 270.045 7.022.181

Total 17.919.498 308.725 18.228.223


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 398.853 11.966 - - 367.818 105.302 - Total 398.853 11.966 - - 367.818 105.302 -

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 1.634.230 49.027 - - 1.939.589 502.358 - Total 1.634.230 49.027 - - 1.939.589 502.358 -



* The total amount of the sums received does not encompass the collections from the direct management foreign users (equal to 391 euros for Literary Works and 4.002 euros for Visual Arts).

72



Total category

Acting Rental Reprography Broadcasting Reproduction Multimedia Abroad Private copy LITERARY WORKS

COLLECTIONS 1.413.677 1.047.146 2.628.899 230.296 61.748 2.012 399.244 2.310.635 8.093.657

OPERATING COSTS 451.349 27.269 1.305.745 158.058 19.643 34.124 432.827 14.355 2.443.369Staff 286.601 5.099 510.338 77.264 12.975 22.749 167.180 6.187 1.088.394

Agents 27.469 9 107.353 36.164 1 2 5 6 171.008

Management and functioning costs 112.517 21.373 638.080 36.880 5.583 9.472 250.866 7.506 1.082.278

Amortizations and devaluations 24.595 429 49.074 7.589 1.063 1.873 14.214 656 99.494

Taxes and fees 166 358 900 161 21 28 561 0 2.195

OTHER REVENUES AND INCOMES 56.117 18.021 158.527 45.221 2.832 4.533 29.838 4.448 319.536Revenues for ancillary services 56.117 18.021 158.527 45.221 2.832 4.533 29.838 4.448 319.536

NET OPERATING COSTS 395.233 9.247 1.147.217 112.837 16.811 29.591 402.989 9.907 2.123.832

COPYRIGHT COMMISSION 874.584


LITERARY WORKS AUTHORAL MANAGEMENT RESULT (1.038.556)

Type of use

Total categoryBroadcasting Reproduction Multimedia Abroad Resale right Private copy VISUAL ART

COLLECTIONS 132.522 577.693 81.002 1.638.232 6.729.352 2.524.484 11.683.285

OPERATING COSTS 274.674 490.615 848 105.482 1.062.616 15.683 1.949.917Staff 134.270 382.974 565 40.743 521.849 6.759 1.087.159

Agents 62.846 8 0 1 125.801 7 188.663

Management and functioning costs 64.091 94.931 235 61.137 361.262 8.201 589.858

Amortizations and devaluations 13.187 12.504 47 3.464 51.400 716 81.318

Taxes and fees 280 198 1 137 2.303 0 2.918

OTHER REVENUES AND INCOMES 78.585 23.471 113 7.272 300.332 4.859 414.631Revenues for ancillary services 78.585 23.471 113 7.272 300.332 4.859 414.631

NET OPERATING COSTS 196.089 467.144 735 98.210 762.283 10.824 1.535.285



VISUAL ART AUTHORAL MANAGEMENT RESULT 312.957

AUTHORAL MANAGEMENT TOTAL RESULT (725.600)ANCILLARY SERVICES BALANCE* 291.397OLAF REPERTORY TOTAL RESULT (434.203)*The ancillary services balance encompasses the Publishing Rights (whose 2017 collections amount to 12.843 euros and the connected commissions amount to 385 euros) related to the Literary Works category

Type of use

Attachment 1:

Relations with other Collective

Management Organizations

Directive 2014/26/UE art. 22 – Legislative Decree

35/2017 art.28


www.siae.it

74

Music

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

DEM -223.970 -52.183 -11.788DRM 0 0 0Other types of rightsTotal - ABRAMUS - BRAZIL 0 0 0 0 -223.970 -52.183 -11.788

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

DEM -2.721 -634 -143DRM 0 0 0Other types of rightsTotal - ACAM - COSTA RICA 0 0 0 0 -2.721 -634 -143

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

DEM 1.277 38 62 -30.271 -7.053 -1.593DRM 0 -1.561 -117 0Other types of rightsTotal - ACDAM - CUBA 1.277 38 62 0 -31.832 -7.170 -1.593

Collections from other collective management Organizations Payments to other collective management Organizations



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

DEM 98.048 2.941 4.755 -33.708 -7.854 -1.774DRM 13.410 402 0 -21.525 -1.616 0Other types of rightsTotal - ACUM - ISRAEL 111.458 3.344 4.755 0 -55.234 -9.470 -1.774

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

DEM 0 0DRM 0 -516 -39 0Other types of rightsTotal - ADDAF - BRAZIL 0 0 0 0 -516 -39 0

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

DEM 19.161 575 929 -4.385 -1.022 -231DRM 163 5 0 -296 -22 0Other types of rightsTotal - AGADU - URUGUAY 19.324 580 929 0 -4.681 -1.044 -231




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

DEM 21.986 660 1.066 83 -455 -106 -24DRM 0 0 0Other types of rightsTotal - AKKA-LAA - LATVIA 21.986 660 1.066 83 -455 -106 -24

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

DEM 756.365 22.691 36.684 -600.150 -139.829 -31.587DRM 0 0 0Other types of rightsTotal - AKM - AUSTRIA 756.365 22.691 36.684 0 -600.150 -139.829 -31.587

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

DEM 0 0DRM 66.455 1.994 0 -13.457 -1.010 0Other types of rightsTotal - AMCOS - AUSTRALIA 66.455 1.994 0 0 -13.457 -1.010 0





75

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

DEM -317.721 -74.026 -16.722DRM 0 -27.985 -2.101 0Other types of rightsTotal - AMRA - UNITED STATES 0 0 0 0 -345.706 -76.127 -16.722

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

DEM 29.812 894 1.446 116 -38.896 -9.062 -2.047DRM 721 22 0 -1.216 -91 0Other types of rightsTotal - APDAYC - PERU 30.533 916 1.446 116 -40.112 -9.154 -2.047

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

DEM 215.760 6.473 10.464 -1.657.257 -386.124 -87.224DRM 0 0 0Other types of rightsTotal - APRA - AUSTRALIA 215.760 6.473 10.464 0 -1.657.257 -386.124 -87.224




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

DEM 79 2 4 0 0DRM 0 0 0Other types of rightsTotal - ARMAUTHOR NGO - ARMENIA 79 2 4 0 0 0 0

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

DEM 149.203 4.476 7.236 981 -20.043 -4.670 -1.055DRM 25.009 750 321 -2.346 -176 0Other types of rightsTotal - ARTISJUS - HUNGARY 174.212 5.226 7.236 1.302 -22.389 -4.846 -1.055

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

DEM 829.093 24.873 40.211 -776.398 -180.893 -40.863DRM 0 0 0Other types of rightsTotal - BUMA - NETHERLANDS 829.093 24.873 40.211 0 -776.398 -180.893 -40.863




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

DEM 38.033 1.141 1.845 -16.301 -3.798 -858DRM 2.101 63 0 -576 -43 0Other types of rightsTotal - CASH - HONG KONG 40.134 1.204 1.845 0 -16.878 -3.841 -858

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

DEM 13.577 407 658 0 0DRM 0 0 0Other types of rightsTotal - COMPASS - SINGAPORE 13.577 407 658 0 0 0 0

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

DEM 2.805 84 136 -1.654 -385 -87DRM 0 0 0Other types of rightsTotal - EAU - ESTONIA 2.805 84 136 0 -1.654 -385 -87




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

DEM 4.287 129 208 -696 -162 -37DRM 0 0 0Other types of rightsTotal - FILSCAP - PHILIPPINES 4.287 129 208 0 -696 -162 -37

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

DEM 2.408.907 72.267 116.832 3.594 -5.299.448 -1.234.719 -278.918DRM 656.431 19.693 39.406 -678.440 -50.931 0Other types of rightsTotal - GEMA - GERMANY 3.065.338 91.960 116.832 43.000 -5.977.887 -1.285.649 -278.918

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

DEM 79.049 2.371 3.834 -9.431 -2.197 -496DRM 0 0 0Other types of rightsTotal - HDS-ZAMP - CROATIA 79.049 2.371 3.834 0 -9.431 -2.197 -496




76

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

DEM 44.635 1.339 2.165 -227.096 -52.911 -11.952DRM 0 0 0Other types of rightsTotal - IMRO - IRELAND 44.635 1.339 2.165 0 -227.096 -52.911 -11.952

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

DEM 259.930 7.798 12.607 2.631 -376.366 -87.690 -19.809DRM 0 0 0Other types of rightsTotal - KODA - DENMARK 259.930 7.798 12.607 2.631 -376.366 -87.690 -19.809

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

DEM 92.170 2.765 4.470 -33.072 -7.705 -1.741DRM 0 0 0Other types of rightsTotal - KOMCA - KOREA 92.170 2.765 4.470 0 -33.072 -7.705 -1.741




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

DEM 42.535 1.276 2.063 -453 -106 -24DRM 0 0 0Other types of rightsTotal - LATGA - LITHUANIA 42.535 1.276 2.063 0 -453 -106 -24

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

DEM 2.217 67 108 0 0DRM 0 0 0Other types of rightsTotal - MACA - MACAU 2.217 67 108 0 0 0 0

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

DEM 13.360 401 648 -17.073 -3.978 -899DRM 0 0 0Other types of rightsTotal - MACP - MALAYSIA 13.360 401 648 0 -17.073 -3.978 -899




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

DEM 0 0 0DRM 427.509 12.825 0 -275.178 -20.658 0Other types of rightsTotal - MCPS - UNITED KINGDOM 427.509 12.825 0 0 -275.178 -20.658 0

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

DEM 3.182 95 154 0 0DRM 0 0 0Other types of rightsTotal - MCT - THAILAND 3.182 95 154 0 0 0 0

AEPI - GRECIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 0 0Other types of rightsTotal - AEPI - GRECIA 0 0 0 0 0 0 0




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

DEM 32.070 962 1.555 0 0DRM 2.311 69 0 0 0Other types of rightsTotal - MESAM - TURKEY 34.381 1.031 1.555 0 0 0 0

MSG - TURKEYCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 -21.097 -4.915 -1.110DRM 0 -435 -33 0Other types of rightsTotal - MSG - TURKEY 0 0 0 0 -21.532 -4.948 -1.110

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

DEM 34.947 1.048 1.695 -3.643 -849 -192DRM 437 13 0 -970 -73 0Other types of rightsTotal - MUSICAUTOR - BULGARIA 35.384 1.062 1.695 0 -4.613 -922 -192





77

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

DEM 13.595 408 659 -999 -233 -53DRM 0 0 0Other types of rightsTotal - MÜST - TAIWAN, CHINESE TAIPEI 13.595 408 659 0 -999 -233 -53

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

DEM 0 0 0DRM 33.327 1.000 0 -152.395 -11.440 0Other types of rightsTotal - NCB - DENMARK 33.327 1.000 0 0 -152.395 -11.440 0

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

DEM 24.426 733 1.185 0 0DRM 0 0 0Other types of rightsTotal - NCIP - BELARUS 24.426 733 1.185 0 0 0 0




ONDA - ALGERIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 411 12 20 0 0DRM 639 19 0 0 0Other types of rightsTotal - ONDA - ALGERIA 1.051 32 20 0 0 0 0

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

DEM 150.606 4.518 7.304 -52.222 -12.167 -2.749DRM 56.933 1.708 0 347 -10.077 -756 0Other types of rightsTotal - OSA - CZECH REPUBLIC 207.539 6.226 7.304 347 -62.298 -12.924 -2.749

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

DEM 851.119 25.533 41.279 -14.613.271 -3.404.747 -769.120DRM 0 0 0Other types of rightsTotal - PRS - UNITED KINGDOM 851.119 25.533 41.279 0 -14.613.271 -3.404.747 -769.120




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

DEM 60.023 1.801 2.911 -80.236 -18.694 -4.223DRM 0 -14.106 -1.059 0Other types of rightsTotal - RAO - RUSSIAN FEDERATION 60.023 1.801 2.911 0 -94.342 -19.753 -4.223

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

DEM 555.338 16.660 26.934 -393.464 -91.673 -20.709DRM 123.810 3.714 0 -74.264 -5.575 0Other types of rightsTotal - SABAM - BELGIUM 679.148 20.374 26.934 0 -467.728 -97.248 -20.709

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

DEM 15.591 468 756 138 0 0DRM 0 0 0Other types of rightsTotal - SACD - FRANCE 15.591 468 756 138 0 0 0




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

DEM 2.402.631 72.079 116.528 -6.212.905 -1.447.545 -326.995DRM 1.137.945 34.138 0 -898.923 -67.482 0Other types of rightsTotal - SACEM - FRANCE 3.540.576 106.217 116.528 0 -7.111.828 -1.515.028 -326.995

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

DEM 130.617 3.918 6.335 -160.817 -37.469 -8.464DRM 0 -13.981 -1.050 0Other types of rightsTotal - SACM - MEXICO 130.617 3.918 6.335 0 -174.797 -38.518 -8.464

SACVEN - VENEZUELACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 630 19 31 0 0DRM 0 0 0Other types of rightsTotal - SACVEN - VENEZUELA 630 19 31 0 0 0 0




78

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

DEM 299.007 8.970 14.502 -367.212 -85.557 -19.327DRM 9.658 290 0 -44.572 -3.346 0Other types of rightsTotal - SADAIC - ARGENTINA 308.666 9.260 14.502 0 -411.784 -88.903 -19.327

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

DEM 21.671 650 1.051 -32.672 -7.612 -1.720DRM 0 0 0Other types of rightsTotal - SAMRO - SOUTH AFRICA 21.671 650 1.051 0 -32.672 -7.612 -1.720

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

DEM 94.597 2.838 4.588 -16.091 -3.749 -847DRM 864 26 0 -1.768 -133 0Other types of rightsTotal - SCD - CHILE 95.462 2.864 4.588 0 -17.859 -3.882 -847




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

DEM 684.545 20.536 33.200 -3.013.302 -702.069 -158.595DRM 115.294 3.459 0 -296.403 -22.251 0Other types of rightsTotal - SGAE - SPAIN 799.840 23.995 33.200 0 -3.309.705 -724.320 -158.595

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

DEM 250.872 7.526 12.167 -1.848.664 -430.720 -97.298DRM 0 0 0Other types of rightsTotal - SOCAN - CANADA 250.872 7.526 12.167 0 -1.848.664 -430.720 -97.298

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

DEM -10.295 -2.399 -542DRM 0 0 0Other types of rightsTotal - SOCINPRO - BRAZIL 0 0 0 0 -10.295 -2.399 -542




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

DEM 0 0DRM 70.071 2.102 0 -52.486 -3.940 0Other types of rightsTotal - SODRAC - CANADA 70.071 2.102 0 0 -52.486 -3.940 0

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

DEM 18.732 562 909 2.730 -8.701 -2.027 -458DRM 4 0 0 -1.739 -131 0Other types of rightsTotal - SOKOJ - SERBIA 18.735 562 909 2.730 -10.440 -2.158 -458

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

DEM 44.144 1.324 2.141 -515 -120 -27DRM 8.296 249 0 -38 -3 0Other types of rightsTotal - SOZA - SLOVAKIA 52.440 1.573 2.141 0 -553 -123 -27




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

DEM 78.069 2.342 3.786 -114.242 -26.617 -6.013DRM 15.633 469 0 12 -8.147 -612 0Other types of rightsTotal - SPA - PORTUGAL 93.703 2.811 3.786 12 -122.390 -27.229 -6.013

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

DEM 3.811 114 185 -2.997 -698 -158DRM 0 0 0Other types of rightsTotal - SPAC - PANAMA 3.811 114 185 0 -2.997 -698 -158

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

DEM 1.732 52 84 0 0DRM 0 0 0Other types of rightsTotal - SSA - SWITZERLAND 1.732 52 84 0 0 0 0





79

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

DEM 3.648 109 177 -34.853 -8.120 -1.834DRM 0 0 0Other types of rightsTotal - STEF - ICELAND 3.648 109 177 0 -34.853 -8.120 -1.834

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

DEM 0 0DRM 91.601 2.748 0 -100.382 -7.536 0Other types of rightsTotal - STEMRA - NETHERLANDS 91.601 2.748 0 0 -100.382 -7.536 0

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

DEM 187.138 5.614 9.076 -1.304.391 -303.910 -68.652DRM 0 0 0Other types of rightsTotal - STIM - SWEDEN 187.138 5.614 9.076 0 -1.304.391 -303.910 -68.652




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

DEM 2.278.477 68.354 110.506 -930.818 -216.871 -48.990DRM 352.897 10.587 0 -211.996 -15.915 0Other types of rightsTotal - SUISA - SWITZERLAND 2.631.374 78.941 110.506 0 -1.142.814 -232.786 -48.990

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

DEM 241.148 7.234 11.696 -113.638 -26.477 -5.981DRM 0 0 0Other types of rightsTotal - TEOSTO - FINLAND 241.148 7.234 11.696 0 -113.638 -26.477 -5.981

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

DEM 72.932 2.188 3.537 -246.166 -57.354 -12.956DRM 0 0 0Other types of rightsTotal - TONO - NORWAY 72.932 2.188 3.537 0 -246.166 -57.354 -12.956




UACRR - UKRAINECategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 3.954 119 192 3.382 0 0DRM 0 0 0Other types of rightsTotal - UACRR - UKRAINE 3.954 119 192 3.382 0 0 0

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

DEM 485.332 14.560 23.539 0 0DRM 15.903 477 0 0 0Other types of rightsTotal - UBC - BRAZIL 501.235 15.037 23.539 0 0 0 0

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

DEM 115.603 3.468 5.607 -49.207 -11.465 -2.590DRM 8.093 243 0 -10.748 -807 0Other types of rightsTotal - UCMR-ADA - ROMANIA 123.697 3.711 5.607 0 -59.955 -12.272 -2.590




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

DEM 3.023 91 147 0 0DRM 0 0 0Other types of rightsTotal - VCPMC - VIET NAM 3.023 91 147 0 0 0 0

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

DEM 399.599 11.988 19.381 61.091 -16.521 -3.849 -870DRM 41.482 1.244 0 15.008 -4.161 -312 0Other types of rightsTotal - ZAIKS - POLAND 441.082 13.232 19.381 76.099 -20.682 -4.162 -870

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

DEM 8.565 257 415 0 0DRM 0 0 0Other types of rightsTotal - ZAMP Macedonia - MACEDONIA 8.565 257 415 0 0 0 0




80

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

DEM -39.640 -9.236 -2.086DRM 0 -4.857 -365 0Other types of rightsTotal - SBACEM - BRAZIL 0 0 0 0 -44.497 -9.600 -2.086

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

DEM -1.480 -345 -78DRM 0 0 0Other types of rightsTotal - ACEMLA - PORTO RICO 0 0 0 0 -1.480 -345 -78

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

DEM -38.362 -8.938 -2.019DRM 0 0 0Other types of rightsTotal - AMAR - BRASILE 0 0 0 0 -38.362 -8.938 -2.019




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

DEM -994 -232 -52DRM 0 0 0Other types of rightsTotal - APA - PARAGUAY 0 0 0 0 -994 -232 -52

ARESA - GERMANIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 0 -95.743 -7.187 0Other types of rightsTotal - ARESA - GERMANIA 0 0 0 0 -95.743 -7.187 0

ASCAP - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 788.899 23.667 38.262 -19.281.486 -4.492.395 -1.014.815DRM 0 0 0Other types of rightsTotal - ASCAP - USA 788.899 23.667 38.262 0 -19.281.486 -4.492.395 -1.014.815




ASSIM - BRASILECategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM -27.339 -6.370 -1.439DRM 0 0 0Other types of rightsTotal - ASSIM - BRASILE 0 0 0 0 -27.339 -6.370 -1.439

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

DEM 0 0DRM 149.616 4.488 0 -65.860 -4.944 0Other types of rightsTotal - AUME - AUSTRIA 149.616 4.488 0 0 -65.860 -4.944 0

BMI - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 846.552 25.397 41.058 26.171 -19.945.688 -4.647.147 -1.049.773DRM 0 0 0Other types of rightsTotal - BMI - USA 846.552 25.397 41.058 26.171 -19.945.688 -4.647.147 -1.049.773




EMI-EUROPE (SOLAR) - REGNO UNITOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM -298.475 -69.542 -15.709DRM 0 -362.206 -27.191 0Other types of rightsTotal - EMI-EUROPE (SOLAR) - REGNO UNITO 0 0 0 0 -660.681 -96.733 -15.709

HFA - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 281.433 8.443 0 0 0Other types of rightsTotal - HFA - USA 281.433 8.443 0 0 0 0 0

GOOGLE - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 571 17 0 0 0Other types of rightsTotal - GOOGLE - USA 571 17 0 0 0 0 0





81

MUSIC NOTES INC - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 227 7 0 0 0Other types of rightsTotal - MUSIC NOTES INC - USA 227 7 0 0 0 0 0

SONY MUSIC - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 58 2 0 0 0Other types of rightsTotal - SONY MUSIC - USA 58 2 0 0 0 0 0

UNIV. MUSIC GROUP - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 475 14 0 0 0Other types of rightsTotal - UNIV. MUSIC GROUP - USA 475 14 0 0 0 0 0




JASRAC - GIAPPONECategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 1.177.261 35.318 57.097 -490.853 -114.364 -25.834DRM 210.956 6.329 0 -110.780 -8.316 0Other types of rightsTotal - JASRAC - GIAPPONE 1.388.218 41.646 57.097 0 -601.633 -122.680 -25.834

KAZAK - KAZAKISTANCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 1.786 54 87 0 0DRM 0 0 0Other types of rightsTotal - KAZAK - KAZAKISTAN 1.786 54 87 0 0 0 0

LEGACY PROD.INC - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 847 25 0 0 0Other types of rightsTotal - LEGACY PROD.INC - USA 847 25 0 0 0 0 0




MASA - MAURITIUSCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM -3.042 -709 -160DRM 0 -197 -15 0Other types of rightsTotal - MASA - MAURITIUS 0 0 0 0 -3.239 -724 -160

MCSC - CINACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 11.935 358 579 -1.369 -319 -72DRM 0 0 0Other types of rightsTotal - MCSC - CINA 11.935 358 579 0 -1.369 -319 -72

NMP - DANIMARCACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 11.496 345 0 0 0Other types of rightsTotal - NMP - DANIMARCA 11.496 345 0 0 0 0 0




NMPA - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 21 1 0 0 0Other types of rightsTotal - NMPA - USA 21 1 0 0 0 0 0

PEERMUSIC - GERMANIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM -10.157 -2.366 -535DRM 0 -9.440 -709 0Other types of rightsTotal - PEERMUSIC - GERMANIA 0 0 0 0 -19.597 -3.075 -535

SAYCO - COLOMBIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 40.044 1.201 1.942 -50.536 -11.774 -2.660DRM 0 0 0 -1.998 -150 0Other types of rightsTotal - SAYCO - COLOMBIA 40.044 1.201 1.942 0 -52.534 -11.924 -2.660




82

SESAC - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 1.374 41 67 -1.787.098 -416.376 -94.058DRM 0 0 0 -64.336 -4.830 0Other types of rightsTotal - SESAC - USA 1.374 41 67 0 -1.851.434 -421.206 -94.058

SOLAR (CELAS) - GERMANIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0 0 0 -220.358 -51.341 -11.598DRM 0 0 0 0 0 0Other types of rightsTotal - SOLAR (CELAS) - GERMANIA 0 0 0 0 -220.358 -51.341 -11.598

SONY/ATV - REGNO UNITOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0 0 -186.148 -43.371 -9.797DRM 0 0 0 -157.810 -11.847 0Other types of rightsTotal - SONY/ATV - REGNO UNITO 0 0 0 0 -343.959 -55.218 -9.797




UMPI - REGNO UNITOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0 0 0 0DRM 0 0 0 -212.041 -15.918 0Other types of rightsTotal - UMPI - REGNO UNITO 0 0 0 0 -212.041 -15.918 0

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

DEM 0 0 0 0DRM 29.788 894 0 0 0Other types of rightsTotal - SGAE(MESSICO) - MESSICO 29.788 894 0 0 0 0 0

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

DEM 79.274 2.378 3.845 -27.923 -6.506 -1.470DRM 1.389 42 -4.554 -342 0Other types of rightsTotal - SAZAS - SLOVENIA 80.663 2.420 3.845 0 -32.477 -6.848 -1.470

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

DEM 8.041 241 390 756 0 0DRM 0 0 0 0Other types of rightsTotal - GCA - GEORGIA 8.041 241 390 756 0 0 0






83

Cinema


DEM 101 3 98DRM 0Other types of rights 0

Total - AKKA-LAA - LATVIA 101 3 0 98 0 0 0

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

DEM 14.475 434 14.041 906.774 123.938DRM 0 72.473 9.906Other types of rights 0

Total - ALCS - UNITED KINGDOM 14.475 434 0 14.041 979.248 133.844 0

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

DEM 1.544 46 1.498 24.984 3.491

DRM 0 10.737 1.500Other types of rights 0

Total - ARGENTORES - ARGENTINA 1.544 46 0 1.498 35.721 4.991 0




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

DEM 0DRM 0 37.824 5.285Other types of rights 0

Total - ASDACS - AUSTRALIA 0 0 0 0 37.824 5.285 0

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


Total - AWGACS - AUSTRALIA 0 0 0 0 13.727 1.918 0

VG BILD-KUNST - GERMANYCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 31.371 941 30.430 1.095.482 137.752

DRM 16.120 484 15.636 73.140 9.197Other types of rights 0

Total - VG BILD-KUNST - GERMANY 47.491 1.425 0 46.066 1.168.622 146.949 0




CBS - NETHERLANDSCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - CBS - NETHERLANDS 0 0 0 0 30.193 3.996 0

COMPACT - UKCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - COMPACT - UK 0 0 0 0 61.123 8.354 0

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


Total - CSCS - CANADA 0 0 0 0 54.533 6.857 0




84

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

DEM 30.170 905 29.264 10.369 1.449DRM 0 3.518 492Other types of rights 0

Total - DAC - ARGENTINA 30.170 905 0 29.264 13.887 1.940 0

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

DEM 78.197 2.346 75.851 187 26DRM 0 0Other types of rights 0

Total - DACIN SARA - ROMANIA 78.197 2.346 0 75.851 187 26 0

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

DEM 0 121.224 15.879DRM 0 5.245 687Other types of rights 0

Total - DAMA - SPAIN 0 0 0 0 126.469 16.566 0




DGA - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 8.242 247 7.995 0DRM 0 317.240 43.360Other types of rights 0

Total - DGA - USA 8.242 247 0 7.995 317.240 43.360 0

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

DEM 15.724 472 15.252 0

DRM 6.468 194 6.274 1.862 234Other types of rights 0

Total - DILIA - CZECH REPUBLIC 22.193 666 0 21.527 1.862 234 0

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

DEM 15.488 465 15.023 775.004 105.928DRM 0 51.668 7.062Other types of rights 0

Total - DIRECTORS UK - UNITED KINGDOM 15.488 465 0 15.023 826.673 112.990 0




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

DEM 0 0 0DRM 0 42.846 5.388Other types of rights 0

Total - DRCC - CANADA 0 0 0 0 42.846 5.388 0

DREAMWORKS - NETHERLANDSCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0 0DRM 0 0Other types of rights 0

Total - DREAMWORKS - NETHERLANDS 0 0 0 0 0 0 0

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

DEM 0 0DRM 0 6.762 945Other types of rights 0

Total - FILMAUTOR - BULGARIA 0 0 0 0 6.762 945 0




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

DEM 27.401 822 26.579 10.595 1.332


Total - FILMJUS - HUNGARY 51.995 1.560 0 50.435 12.192 1.533 0

FINTAGE - NETHERLANDSCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - FINTAGE - NETHERLANDS 0 0 0 0 65.570 8.679 0

IFTA - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - IFTA - USA 0 0 0 0 32.166 4.396 0





85

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

DEM 3.911 117 3.793 0DRM 0 239 30Other types of rights 0

Total - KOPIOSTO - FINLAND 3.911 117 0 3.793 239 30 0


DEM 175 5 169 0

DRM 640 19 621 0Other types of rights 0

Total - LATGA - LITHUANIA 815 24 0 790 0 0 0

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

DEM 64.247 1.927 62.320 89.507 11.847


Total - LIRA - NETHERLANDS 70.267 2.108 0 68.159 90.518 11.981 0




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

DEM 9.336 280 9.056 0

DRM 9.663 290 9.373 0Other types of rights 0

Total - LITA - SLOVAKIA 18.999 570 0 18.429 0 0 0

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

DEM 52.224 1.567 50.657 32.285 4.060DRM 0 2.988 376Other types of rights 0

Total - LITERAR-MECHANA - AUSTRIA 52.224 1.567 0 50.657 35.273 4.435 0

MGM - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0DRM 0 15.529 2.123Other types of rights 0

Total - MGM - USA 0 0 0 0 15.529 2.123 0




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

DEM 0 0


Total - NORWACO - NORWAY 1.667 50 0 1.617 4.924 619 0

PPG VIACOM PARAMOUNT - NETHERLANSCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0 21.480 2.843DRM 0 0Other types of rights 0

Total - PPG VIACOM PARAMOUNT - NETHERLANS 0 0 0 0 21.480 2.843 0


DEM 1.345 40 1.304 45.871 5.768

DRM 19 1 18 3.910 492Other types of rights 0

Total - SABAM - BELGIUM 1.364 41 0 1.323 49.781 6.260 0





DEM 723.440 21.703 701.737 1.766.931 222.184

DRM 64.115 1.923 62.191 188.747 23.734Other types of rights 0

Total - SACD - FRANCE 787.555 23.627 0 763.928 1.955.678 245.918 0

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

DEM 65.293 1.959 63.334 120.187 15.113


Total - SCAM - FRANCE 67.795 2.034 0 65.761 172.048 21.634 0


DEM 98.215 2.946 95.268 1.132.704 148.368


Total - SGAE - SPAIN 100.047 3.001 0 97.046 1.198.648 157.005 0




86

SONAR ENTERTAINMENT - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 0 0 0DRM 0 0Other types of rights 0

Total - SONAR ENTERTAINMENT - USA 0 0 0 0 0 0 0

SONY - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - SONY - USA 0 0 0 0 47.675 6.516 0


DEM 438 13 424 0DRM 0 0Other types of rights 0

Total - SPA - PORTUGAL 438 13 0 424 0 0 0





DEM 306.300 9.189 297.111 3.543 469

DRM 2.395 72 2.323 586 78Other types of rights 0

Total - SSA - SWITZERLAND 308.695 9.261 0 299.434 4.129 547 0

TCF FOX - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - TCF FOX - USA 0 0 0 0 50.651 6.923 0

TNT - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - TNT - USA 0 0 0 0 17.160 2.345 0




UNIVERSAL - UKCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - UNIVERSAL - UK 0 0 0 0 88.627 12.114 0

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

DEM 11.215 336 10.879 64.794 8.148


Total - VDFS - AUSTRIA 20.156 605 0 19.551 68.329 8.592 0

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

DEM 49.217 1.477 47.740 50.858 6.732


Total - VEVAM - NETHERLANDS 53.201 1.596 0 51.605 52.010 6.884 0




WALT DISNEY - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - WALT DISNEY - USA 0 0 0 0 61.810 8.448 0

WARNER BROS - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - WARNER BROS - USA 0 0 0 0 143.261 19.581 0

WGA - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - WGA - USA 0 0 0 0 317.277 39.896 0





87

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

DEM 26.451 794 25.657 945.177 118.852


Total - WORT - GERMANY 53.596 1.608 0 51.988 997.776 125.466 0

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

DEM 126.570 3.797 122.773 15.410 2.153DRM 0 2.693 376Other types of rights 0

Total - ZAPA - POLAND 126.570 3.797 0 122.773 18.103 2.529 0

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

DEM 198.523 5.956 192.568 41.076 516

DRM 95.797 2.874 92.923 2.446 31Other types of rights 0

Total - SUISSIMAGE - SWITZERLAND 294.321 8.830 0 285.491 43.522 547 0




88

Dor


DEM 34.886 1.047 1.519 163DRM 0Other types of rightsTotal - ABRAMUS - BRAZIL 34.886 1.047 0 0 1.519 163 0

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

DEM 0 26 0DRM 0Other types of rightsTotal - ACUM - ISRAEL 0 0 0 0 26 0 0

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

DEM 1.185 36 292 18DRM 0Other types of rightsTotal - AGADU - URUGUAY 1.185 36 0 0 292 18 0





DEM 2.308 69DRM 0Other types of rightsTotal - AKKA-LAA - LATVIA 2.308 69 0 0 0 0 0

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

DEM 99 3DRM 0Other types of rightsTotal - APDAYC - PERU 99 3 0 0 0 0 0


DEM 22.524 676 1.808 247DRM 0Other types of rightsTotal - ARGENTORES - ARGENTINA 22.524 676 0 0 1.808 247 0





DEM 54.131 1.624 0DRM 0Other types of rightsTotal - DILIA - CZECH REPUBLIC 54.131 1.624 0 0 0 0 0


DEM 905 27 0DRM 0Other types of rights

Total - EAU - ESTONIA 905 27 0 0 0 0 0

HAA - CROAZIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 5.743 172DRM 0Other types of rightsTotal - HAA - CROAZIA 5.743 172 0 0 0 0 0





89

HOFRA - UNGHERIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 16.957 509DRM 0Other types of rightsTotal - HOFRA - UNGHERIA 16.957 509 0 0 0 0 0


DEM 1.700 51 2.762 309DRM 0Other types of rights

Total - LATGA - LITHUANIA 1.700 51 0 0 2.762 309 0

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

DEM 3.830 115DRM 0Other types of rightsTotal - LITA - SLOVAKIA 3.830 115 0 0 0 0 0




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

DEM 1.835 55DRM 0Other types of rightsTotal - NCIP - BELARUS 1.835 55 0 0 0 0 0


DEM 18.817 565 2.056 206DRM 0Other types of rightsTotal - RAO - RUSSIAN FEDERATION 18.817 565 0 0 2.056 206 0


DEM 17.658 530 0 0DRM 0Other types of rightsTotal - SABAM - BELGIUM 17.658 530 0 0 0 0 0





DEM 324.618 9.739 361.939 46.089DRM 0 1.563Other types of rightsTotal - SACD - FRANCE 324.618 9.739 0 0 363.502 46.089 0


DEM 42.893 1.287 35.192 4.768DRM 0 10Other types of rightsTotal - SGAE - SPAIN 42.893 1.287 0 0 35.202 4.768 0

SOGEM - MESSICOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEM 3.970 119DRM 0Other types of rightsTotal - SOGEM - MESSICO 3.970 119 0 0 0 0 0




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

DEM 6.793 204DRM 0Other types of rightsTotal - SOPE - GREECE 6.793 204 0 0 0 0 0


DEM 2.855 86 226 9DRM 0Other types of rightsTotal - SPA - PORTUGAL 2.855 86 0 0 226 9 0


DEM 579.574 17.387 17.058 2.110DRM 53.707 1.611Other types of rightsTotal - SSA - SWITZERLAND 633.281 18.998 0 0 17.058 2.110 0




90


DEM 1.607 48DRM 0Other types of rightsTotal - SUISA - SWITZERLAND 1.607 48 0 0 0 0 0


DEM 3.846 115DRM 0Other types of rightsTotal - UACRR - UKRAINE 3.846 115 0 0 0 0 0


DEM 9.013 270DRM 0Other types of rightsTotal - ZAIKS - POLAND 9.013 270 0 0 0 0 0





91

Lyric


DEM 5.039 151DRMOther types of rightsTotal - ABRAMUS - BRAZIL 5.039 151 0 0 0 0 0

1


DEM 480 14DRMOther types of rightsTotal - AKKA-LAA - LATVIA 480 14 0 0 0 0 0


DEM 5.356 161 12.332 1.192DRMOther types of rightsTotal - ARGENTORES - ARGENTINA 5.356 161 0 0 12.332 1.192 0





DEM 1.333 40 75.961 5.462DRMOther types of rightsTotal - RAO - RUSSIAN FEDERATION 1.333 40 0 0 75.961 5.462 0


DEM 400 12 1.311 206DRMOther types of rightsTotal - SABAM - BELGIUM 400 12 0 0 1.311 206 0


DEM 40.454 1.214 394.059 31.355DRMOther types of rightsTotal - SACD - FRANCE 40.454 1.214 0 0 394.059 31.355 0





DEM 748 22 105.564 4.653DRMOther types of rightsTotal - SGAE - SPAIN 748 22 0 0 105.564 4.653 0


DEM 19.976 599 102.172 8.886DRMOther types of rightsTotal - SSA - SWITZERLAND 19.976 599 0 0 102.172 8.886 0


DEM 764 23DRMOther types of rightsTotal - SUISA - SWITZERLAND 764 23 0 0 0 0 0





DEM 293 9DRMOther types of rightsTotal - UACRR - UKRAINE 293 9 0 0 0 0 0


DEM 0 597 166DRMOther types of rightsTotal - ZAIKS - POLAND 0 0 0 0 597 166 0



92

OLAF – Literary works


DEMDRMOther types of rights 42 1


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

DEMDRMOther types of rights 21.619 649 12.975 3.525

Total - ALCS - UNITED KINGDOM 21.619 649 0 0 12.975 3.525 0

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

DEMDRMOther types of rights 66 2 0

Total - ARTISJUS - HUNGARY 66 2 0 0 0 0 0




Copyright Agency - AUSTRALIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEMDRMOther types of rights 49.173 1.475

Total - Copyright Agency - AUSTRALIA 49.173 1.475 0 0 0 0 0

CCC - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEMDRMOther types of rights 0 159.842 39.961

Total - CCC - USA 0 0 0 0 159.842 39.961 0

CCLA CANADIAN COPYRIGHT LICENSING AGENCY

Category name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductionsDEMDRMOther types of rights 2.400 72 1.122 280

Total - CCLA CANADIAN COPYRIGHT LICENSING AGENCY 2.400 72 0 0 1.122 280 0




CEDROCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - CEDRO 1.830 55 0 0 18.510 4.820 0

CFCCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEMDRMOther types of rights 51.996 1.560 44.961 11.240

Total - CFC 51.996 1.560 0 0 44.961 11.240 0

CLACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - CLA 104.328 3.130 0 0 117.820 42.078 0





93

CLLCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEMDRMOther types of rights 2.601 78

Total - CLL 2.601 78 0 0 0 0 0

COPIBECCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - COPIBEC 5.684 171 0 0 0 0 0

COPYDAN WRITINGCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEMDRMOther types of rights 36.700 1.101 487 122

Total - COPYDAN WRITING 36.700 1.101 0 0 487 122 0




KOPINORCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - KOPINOR 23.452 704 0 0 0 0 0



Total - DILIA - CZECH REPUBLIC 0 0 0 0 485 67 0

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


Total - LIRA - NETHERLANDS 39.923 1.198 0 0 0 0 0




HKRRLS - HONG KONG - HONG KONGCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - HKRRLS - HONG KONG - HONG KONG 0 0 0 0 44 16 0

PROLITTERIS - SWITZERLANDCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - PROLITTERIS - SWITZERLAND 20.827 625 0 0 5.361 1.411 0

RAOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - RAO 345 10 0 0 0 0 0




SCAMCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEMDRMOther types of rights 931 28 1

Total - SCAM 931 28 0 0 0 1 0

SGAECategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEMDRMOther types of rights 1

Total - SGAE 0 0 0 0 0 1 0

SSACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - SSA 315 9 0 0 0 0 0




94

WORTCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - WORT 36.623 1.099 0 0 0 0 0

IRRO - INDIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - IRRO - INDIA 0 0 0 0 4.708 1.471 0

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


Total - LITME - AUSTRIA 0 0 0 0 1.505 310 0





95

OLAF – Visual Art

ADAGP - FRANCECategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - ADAGP - FRANCE 179.255 5.378 0 0 869.158 199.431 0

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


Total - ACS - UNITED KINGDOM 0 0 0 0 0 2 0


DEMDRMOther types of rights 192 6 202 75





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


Total - ARS - UNITED STATES 29.854 896 0 0 419.938 135.026 0

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


Total - AUTVIS - BRAZIL 0 0 0 0 0 2 0

BILD-KUNSTCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - BILD-KUNST 209.039 6.271 0 0 164.207 38.164 0




BILDRECHT GmbH - AUSTRIACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - BILDRECHT GmbH - AUSTRIA 190.300 5.709 0 0 14.680 3.380 0

VISDA - DENMARKCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - VISDA - DENMARK 10.392 312 0 0 8.863 2.293 0

BONO - NORWAYCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - BONO - NORWAY 3.649 109 0 0 2.967 1.042 0




96

Bildupphovsrätt - SWEDENCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - Bildupphovsrätt - SWEDEN 19.358 581 0 0 9.060 2.101 0

COPYDAN-WRITING - DENMARKCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - COPYDAN-WRITING - DENMARK 3.937 118 0 0 0 0 0

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


Total - DACS - UNITED KINGDOM 926.357 27.791 0 0 193.078 48.997 0






Total - EAU - ESTONIA 102 3 0 0 7 3 0

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


Total - GESTOR - CZECH REPUBLIC 4.796 144 0 0 17.991 3.938 0

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


Total - HUNGART - HUNGARY 379 11 0 0 396 91 0




JASPAR - JAPANCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - JASPAR - JAPAN 3.729 112 0 0 0 0 0

KUVASTO - FINLANDCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - KUVASTO - FINLAND 0 0 0 0 993 332 0



Total - LATGA - LITHUANIA 229 7 0 0 21 8 0




PICTORIGHT - NETHERLANDSCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - PICTORIGHT - NETHERLANDS 22.765 683 0 0 17.225 4.715 0

PROLITTERIS - SWITZERLANDCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - PROLITTERIS - SWITZERLAND 14.414 432 0 0 14.113 3.715 0



Total - RAO - RUSSIAN FEDERATION 2.117 64 0 0 3.991 1.289 0





97



Total - SABAM - BELGIUM 6.517 196 0 0 46.092 10.524 0

SACK - KOREA, REPUBLIC OFCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - SACK - KOREA, REPUBLIC OF 820 25 0 0 0 0 0

SODART - Category name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - SODART - 0 0 0 0 0 1 0




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

DEMDRMOther types of rights 1.654 50 725 243

Total - SODRAC - CANADA 1.654 50 0 0 725 243 0



Total - SPA - PORTUGAL 0 0 0 0 0 2 0

SOMAAP - MEXICOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions

DEMDRMOther types of rights 862 26 3.010 1.005

Total - SOMAAP - MEXICO 862 26 0 0 3.010 1.005 0




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

DEMDRMOther types of rights 3.509 105 1.867 693

Total - VISCOPY - AUSTRALIA 3.509 105 0 0 1.867 693 0

SOFAM - BELGIO - BELGIOCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - SOFAM - BELGIO - BELGIO 0 0 0 0 544 144 0

VEGAP - SPAINCategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - VEGAP - SPAIN 0 0 0 0 104.301 33.599 0

VAGA - USA - USACategory name Amounts received Allocated shares Other deductions Amounts distributed Amounts paid Allocated shares Other deductions


Total - VAGA - USA - USA 0 0 0 0 46.159 11.541 0





AUDITING FIRM REPORT

Accounting period 2017


www.siae.it


101

BOARD OF AUDITORS REPORT

Accounting period 2017


www.siae.it


105

transparency report 2017 · rizzi antonella solbiati alessandro ... galletti anna lavezzi mario...

Documents