Amuse is one of Sweden’s leading independent distribution and services companies for indie artists.
Each year, via company filings registered in Sweden, it reveals details about its prior-year performance.
This data includes the firm’s revenues and operating profit (measured in SEK million), as reflected in the below data visualization.
Please note: The first chart reflects the reported historical net sales of Amuseio AB post-2023.
In its FY 2023 annual report, Amuse changed the reporting metric of its net sales, affecting all previous years. (This move did not affect previously-reported annual margin figures, including operating profit/loss.)
Translated from the Swedish FY 2023 document, Amuse did this for the following reason: “As Amuse’s business model has evolved, the company has deliberately chosen to calculate its net sales based on licensing revenues, subscription revenues and fees for paid services. As of 2023, non-licensed royalty flows are therefore excluded from the company’s results for the financial year, where Amuse only acts as an agent and not as a principal.”
In other words, Amuse has removed gross revenues (for FY 2023 and all previous years) where it simply collects royalties for subscribers to its DIY distribution service and passes 100% of them on to the client. (Amuse’s offering to DIY artists sees it make money via the subscription paid by these clients; the company doesn’t take a cut of collected royalties for these artists.)
For completeness, we have included a second chart depicting Amuse’s annual revenues and operating profit/loss based on its previously-used net sales metric pre-2023 (i.e. including the gross revenue movement from DIY clients, despite the fact Amuse takes 0% margin from these royalties).
Note also: in its FY 2024 annual report, Amuse disclosed an accounting error in its 2023 books. Amuse had recognized revenue from the sale of an artist receivable in 2023 without booking the corresponding SEK 7.39 million cost — overstating the year’s gross profit by that amount. After the correction, 2023’s operating loss has been revised from SEK 13.47 million to SEK 20.85 million. The chart above reflects this revised figure.
