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GEMA Reports Record Results, Revenue Up 8.4%

Income at the German CMO increased, but at a lesser rate than the previously year. Does that mean growth is steady or starting to slow?

That income was offset by an expense ratio of 15.2%, up from 14.3% last year at a time of relatively high inflation of 5.9% in Germany. GEMA is the first of the major European CMOs to announce its 2023 results, and they could be a sign that the growth of the last two years is starting to slow. (It is difficult to make meaningful comparisons between CMOs, since their results include different forms of income and are calculated using different accounting methods and in some cases different currencies.)

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