New Nordic Report: The music industry must focus on social sustainability

Koda has long been working strategically and systematically with sustainability as a fundamental part of its business. Now, a new Nordic report concludes that music rights organizations like Koda are particularly well-positioned to address these challenges, which fall under the so-called ESG criteria - environmental, social, and governance factors.

The new report, the result of a collaboration between music rights organizations in Denmark, Sweden, Norway, Finland, and Iceland, provides a structured approach to working with ESG. By actively mapping key challenges within the ESG area, music rights organizations can help drive a sustainable transformation of the music industry, the report concludes.

"This report provides us with a tool to understand the most relevant themes for music rights organizations and the music industry when it comes to ESG. But the report is also important because it highlights that we can contribute even more to solving social issues such as poor well-being, inequality, and the economic conditions facing the music industry. We are already working on these issues, and the report's conclusions allow us to target our efforts even more effectively," says Koda's CEO, Gorm Arildsen.

The music industry must improve collaboration

The report emphasizes that social challenges such as lack of diversity, equality, inclusion, mental health, well-being, job security, and fair compensation are the most pressing issues for organizations to address. These challenges have significant implications across the music industry and require a collective effort to resolve.

Additionally, rights organizations are encouraged to strengthen their internal member democracy, improve transparency, and ensure responsible capital management. The report highlights that responsible leadership is one of the keys to fostering trust within the music industry and supporting sustainability efforts.

"The report's findings make it clear that many of the problems we face are structural and that we cannot solve them alone. Therefore, the music industry must improve collaboration, share knowledge, and develop common strategies that can lead to a more sustainable future for the music community," says Gorm Arildsen.

Read the full report here