ZAGREB, 24 March 2022 - Croatia's cultural and creative industries have recorded sharp declines in revenues since pre-pandemic 2019, of 8.5 per cent on average, with some segments, such as music, film and art, having seen their revenues plunge by as much as 40, 35 and 25 per cent respectively, a conference was told in the eastern city of Osijek on Wednesday.

A study on the impact of the COVID-19 pandemic on the Croatian cultural and creative industries, which the Ministry of Culture commissioned from the Zagreb Institute of Economics, also shows that some segments, such as video games, have seen increases in revenues since 2019, said Nenad Marčec, director-general of the Croatian Association of Composers.

Last year was still about 12% below the 2019 levels, but given that there were not many concerts and the tourism industry and cinemas operated at a reduced capacity, this is acceptable because a lot of revenues were generated from YouTube, Netflix and some other platforms that now have a large number of subscribers in Croatia. In 2015, there were about 2,000 subscribers to these services, and now there are 200,000, which is "a tectonic shift" that occurred during the pandemic and helped authors weather this crisis, he said.

Asked by the press what he expected from the new Copyright Act, Marčec said that it entered into force in December 2020 and would ensure the implementation of new directives on copyright on the digital market, which regulate the responsibilities of Facebook, YouTube, TikTok and Instagram for the use of copyright and make it possible for authors to get their fees. He said that these services had become multimillion companies that paid the authors hardly anything and the new law should benefit the authors.

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ZAGREB, 18 March, 2021 - The government on Thursday decided to extend its loan guarantee programme for enterprises in the field of culture and the creative industry until 30 June this year.

The programme foresees HRK 300 million in loans with guarantees of 100% of the principal and a maximum amount of €800,000 per applicant. The shortest period of the guarantee is one year and the most five years, which includes a one-year grace period.

Minister of Culture and Media Nina Obuljen Koržinek recalled that the government adopted the guarantee programme for enterprises in culture and the creative industry in July last year, which was the first time in history.

Considering that the pandemic situation has continued, the government has decided to extend the guarantee programme until 30 June, said the minister and added that preparations are underway to extend the programme until the end of 2021.

The loan guarantee programme is earmarked for SMEs in the field of culture and creative industry affected by the coronavirus pandemic.

The programme is aimed at securing additional liquidity for micro, small and medium-sized enterprises in culture and the creative industry at a decreased interest rate and/or fewer collateral required.

The programme is based on the European Commission Temporary Framework to support economy in the context of coronavirus outbreak. It was approved by the Commission on 17 June 2020 and adopted by the government on 2 July 2020.

Following amendments on 13 October 2020, the Commission enabled member states to extend the duration of state support until 30 June 2021, the government explained.

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