The Teosto Fund will provide special financial support to composers, lyricists and arrangers as well as music publishers to lessen the impact of the coronavirus pandemic in autumn 2020.
Teosto’s coronavirus financial support
- A maximum of EUR 1 million of special financial support will be provided, and the payment of the support will be channeled through the funds of Teosto’s member organisations.
- Financial support can be granted for artistic work (composing, writing lyrics, arranging) or music publishing activities.
Who can apply for and receive financial support
- All of Teosto’s creator and publisher members can apply for financial support, which means that receiving financial support does not require being a member of any of Teosto’s member organisations (the Finnish Music Creators’ Association, the Society of Finnish Composers, the Finnish Music Publishers Association).
- In determining the amount of financial support, we will take into account the royalties paid to the applicant by Teosto in the distribution categories of concerts and events as well as commercial radio and commercial TV for 2017–2019.
- Financial support can be granted to professional music creators and publishers whose aforementioned royalties for the use of works in 2017-2019 total at least EUR 1,500.
- The amount of financial support depends on the amount of the aforementioned royalty payments. The minimum amount is EUR 300 and the maximum amount is EUR 10,000.
- The heirs of a creator cannot apply for coronavirus financial support for creators as the support is meant for creators’ artistic work (composing, writing lyrics, arranging). Heirs that publish music and are a Teosto publisher member can apply for coronavirus financial support for music publishers.
How to apply for financial support
- Composers, lyricists and arrangers can apply for financial support from the Finnish Music Creators’ Association (Music Creators’ Fund) or the Sibelius Fund of the Society of Finnish Composers as they choose. The criteria for receiving financial support are the same for both funds.
- Music publishers can apply for financial support from the fund of the Finnish Music Publishers Association. The criteria for receiving financial support are the same as those of the funds that provide financial support to creators.
- Applicants are not required to be a member of any of Teosto’s member organisations to apply for and receive financial support. The applicant only needs to be a creator member or publisher member of Teosto.
- You cannot use the same application to apply for financial support as a creator and a publisher. A publishing company that is owned by a Teosto creator member and is a Teosto publisher member can apply for coronavirus financial support for music publishers. The applications of the creator member and the publishing company are processed and decided on separately.
- Teosto creator members who use the company model can apply for the coronavirus financial support for creators.
Application processing and the payment of financial support
- The applications that meet the criteria for receiving coronavirus financial support are dealt with by a committee appointed by Teosto’s Board of Directors that consists of the representatives of composers, lyricists, arrangers and music publishers.
- Decisions on financial support are at the discretion of the committee and they are final. Every applicant will be informed of the content of the decision on their application.
- The financial support is paid through the Funds of the Finnish Music Creators’ Association and the Finnish Music Publishers Association as well as the Sibelius Fund of the Society of Finnish Composers.
- For composers, lyricists and arrangers, the financial support is not taxable income, provided that the conditions stated in section 82 of the Income Tax Act are met.
- For music publishers, the financial support is taxable income in accordance with section 4 of the Act on the Taxation of Business Income.
For additional information about Teosto's coronavirus support, please contact our customer service: firstname.lastname@example.org or 09-6810 1112 (Mon-Fri 9-20, Sat 10-16)