Maturing Closer Music
IMS still shares little information about the Closer Music company. After the third quarter of this year, we do not have detailed information about its revenues and profit lines.
However, we know that as a result of the agreement with ZAiKS, royalties began to flow to it and are reported as other revenues of the IMS group. In Q2, this segment recorded an annual growth rate of as much as 613% to the level of PLN 2.1 million (the settlement included most of the revenues from the period 2020 - 2022).
In the third quarter, the annual increase reached 268% to the level of PLN 1.3 million (in this case, the settlement covered the period of the first half of 2023). We do not know the exact amounts of settlements, but they can be estimated at approximately PLN 1.7 million in Q2 and nearly PLN 1 million in Q3.
The result of Q3 deserves special attention, as based on it the annual revenue from settlements with ZAiKS can be estimated at the level of approx. PLN 2 million.
Thanks to this money the probability of failure of the Closer Music project has significantly decreased. However, it is still difficult to estimate its future development outside the area of settlements with collective management organizations
