AGICOA successfully achieves its 2025 objectives

In 2025, AGICOA’s key objectives were:

• To distribute royalties to producers in a timely manner in accordance with the distribution plan
• To preserve the revenue stream for producers
• To conclude new licensing agreements in the core markets of Belgium and the Netherlands
• To develop activities in the UK and Italy, and to explore new markets under the Directive (EU) 2019/789 on online transmissions of broadcasting organizations and retransmissions of television and radio programs (the ‘CabSat II Directive’)
• To implement AI in internal processes
• To control costs within budget and ensure the association’s financial sustainability

We are proud to say that these goals have been achieved, with all distributions carried out successfully, making 2025 a highly beneficial year for the producers we represent.

Negotiations in the Belgian core market have progressed positively. A new licensing agreement was concluded with one operator and an agreement in principle was reached with another key operator on the financial terms for a new licensing agreement. AGICOA and AGICOA Europe Brussels also reached a settlement with the Belgian producer association BAVP, reflecting a positive outcome for the broader interests of audiovisual producers in Belgium.

The UK market delivered stronger than expected results. AVLA is already self-financing in its second year of operation, resulting in savings as no financial support was required.

After exploring new markets opportunities in Croatia, Cyprus, Greece and Malta, it was decided to prioritize Greece in 2026.

AI has enabled faster and more efficient data matching. At the same time, caution has been maintained through continued and thorough data controls. Systems are now processing data three times faster, with improved matching results. To date, AI has proven highly effective, confirming the validity of the Proof of Concept, developed with the support of IDIAP, the AI center of excellence of the University of Lausanne.

Despite the ongoing transformation of the audiovisual industry, AGICOA remains firmly committed to its mission: enhancing the value of access to audiovisual works and protecting producers’ rights. Work continues collectively to ensure appropriate remuneration levels for the use of AGICOA valuable repertoire.

Despite challenges in some of our core collection markets, AGICOA has maintained a high level of operations and a solid overall performance.

Distribution exceeded expectations

AGICOA and its partner organizations exceeded expectations in the distribution of funds to producers. A total of EUR 171.1 million was put into distribution in 2025, surpassing the planned EUR 141.0 million by 21.35%. This amount comprised EUR 156.2 million in first distributions and a further EUR 14.9 million in final distributions.

Distribution amounts exceeded plan in most countries, particularly in Ireland, Poland, Portugal, Spain and Latin America (Colombia, Peru, Ecuador, and now Chile), with some variances due to budgeting adjustments. In the Netherlands, Germany, Denmark, Sweden, and Israel, distributions were below plan, as negotiations for new agreements, cord-cutting and/or discussions regarding splits between rightsholder categories slowed the process.

Overall, distributions were very well managed, taking into account numerous unplanned and additional distributions on previous years in Germany, Slovenia, Denmark, Switzerland, Norway, Austria, Romania, and Canada.

In addition, the AGICOA team was able to release significant provisions that were paid-out to producers following successful completion of due diligence procedures and a record of conflict resolutions in 2025.

These positive results for producers were achieved in a context where operators are facing declining TV subscribers and are seeking to reduce costs including IP-related costs. AGICOA nevertheless continues to provide the necessary authorization for access to audiovisual content, ensuring appropriate remuneration to rightsholders for the use of their works.

Royalty collections

AGICOA’s primary objective remains the preservation of producers’ revenue streams.

While royalties are generally collected in line with existing agreements, collections from operators in the core markets of Belgium and the Netherlands continued to present challenges. However, despite ongoing negotiations and litigation, AGICOA ensured collections in accordance with the agreements in force, successfully concluded a new licensing agreement, and secured payment of undisputed amounts from other operators, thereby maintaining a solid revenue base in both markets.

In Belgium, further progress was made through the settlement with BAVP, resolving a dispute between International and Belgian producers and enabling the release of substantial funds. In the Netherlands, recent developments, including the payment of undisputed amounts following litigation, are expected to support future collections. AGICOA remains fully committed to securing fair market conditions through negotiation, mediation, litigation and/or out-of-court settlements.

In other markets, collections were affected by structural and regulatory challenges, notably in Denmark (cord-cutting and a dispute relating to works of broadcaster-producers), Germany and Sweden (discussions regarding splits between rightsholder categories), and Israel (subscriber shifts towards technologies not yet covered by existing agreements).

Strong performances in Ireland, Poland, Portugal, Spain and Latin America largely offset these challenges.

Overall, 2025 collections support a solid distribution plan for 2026, with prudent expected distributions of EUR 135.9 million.

Operating costs and internal controls

AGICOA maintained strict control over operating costs. Total operating expenses amounted to CHF 8.2 million, representing a 9.01% saving compared to the approved budget.

The financing of the association was carried out in accordance with the decisions taken by the General Assembly on 10 December 2024, with management fees set at 8.54% on new royalties under General Mandate put into distribution, down from 9.61% in the previous year.

A total amount of CHF 1.4 million was returned from the operating accounts to the fiduciary accounts due to rightsholders.

Market expansions

In the UK, AVLA recorded strong growth in its second year of operation despite a challenging market environment. Licence fee revenues more than doubled compared to 2024 and the organization operated on a fully self-financing basis without additional funding from AGICOA.

AGICOA Italia also made steady progress in 2025, establishing foundations for full operations in 2026.

Overall, 2025 was marked by strategic growth, operational consolidation, and financial stability, positioning AVLA and AGICOA Italia for further development in 2026.

At the same time, AGICOA continues to support EGEDA, its partner organization in Spain, in its successful expansion into Latin America, where new collection activities have been launched in several countries.

Following an assessment of potential licensing opportunities in new EU markets under the CabSat II Directive, it was decided to further explore licensing needs in Greece.

Evolving challenges

The television industry is undergoing a period of structural transformation. Internet service providers, evolving consumption habits, and increasing competition from streaming platforms are reshaping traditional broadcasting and distribution models. Subscriber numbers are declining in several markets, raising questions regarding the future of TV subscriptions?

Television operates within a highly interdependent ecosystem in which producers, broadcasters and operators rely on each other to sustain value creation. AGICOA’s position remains that the making available of audiovisual works is the foundation of rights obligations and remuneration. It is the act of making content accessible that generates value for operators through subscriptions to their television distribution services, not the audience. While declining subscriber numbers have had an impact, the legal and economic basis of remuneration remains anchored in this principle.

While operators continue to challenge the EU legal and regulatory framework (CabSat II) including its application to new technologies and distribution models, ensuring fair market conditions and maintaining robust licensing arrangements remain central priorities for AGICOA.

Television remains a central part of the broader digital ecosystem. The challenge is one of adaptation rather than decline, ensuring that the value of making works accessible continues to be recognized, protected, and fairly remunerated.

We implemented AI at the right time

AGICOA implemented AI at an appropriate stage, enhancing operational efficiency and reinforcing its overall capabilities.

In the first quarter of 2025, a validated Proof of Concept for AI-based matching of works and broadcasts was successfully integrated into IRRIS, AGICOA’s rights management system. The AI identification process is now fully operational, matching a database of 1.7 million works and rights against more than 2.8 million broadcasts across over 320 TV channels.

The system is approximately three to four times faster than the previous in-house solution and has improved automatic identification rates by around 20%, while maintaining strengthened quality controls. The project was delivered on time and within budget.

AGICOA also started exploring AI to improve episode-level identification of television series, enabling more precise allocation of rights and beneficiaries. Further developments are planned in 2026, including the use of publicly available metadata to enhance broadcast data quality.