Double-digit growth in digital, audio streaming and live music has helped APRA AMCOS hit a record $471.8 million in revenue the 2018/9 financial year, a 12.3% rise from the previous period.
The Australasian performing right association says $410.9 million was paid to songwriters, publishers and affiliated societies, an increase of 13.2%
Among its members, 44,892 earned royalties in Australia, and 16,720 earned overseas royalties.
The financial year coincided with Dean Ormston’s first 12 months as CEO, and launch of OneMusic Australia in July to make it easier for businesses to license music.
“This year, APRA AMCOS firmly laid the groundwork for how we will better serve our 103,000 members and over 150,000 licensees into the future – by listening to our members, by making life simpler for our licensees and by ensuring a world’s best service culture that is focused on efficiency and transparency,” said chief executive Dean Ormston.
Digital had 30.4% year on year growth to $175.4 million. This made up $105 million from audio streaming (up 28.2%), $26.1 million from subscription video-on-demand (up 41.8%) and $35.3 million Websites and User Generated Content (up 61.2%).
Audio streaming expanded by 28.2% to $105 million. Since 2012-13, when audio streaming had its first full financial year impact with $2.4 million collected, the category has grown a whopping 4,275%.
A report from Telsyte estimated Australians have taken up more than 12 million streaming music subscriptions at the end of June 2019, with 42% being paid subscriptions. Telsyte forecasts 16.2 million streaming music subscriptions by the end of June 2023.
Music executives said such growth would expand the entire business, that streaming royalty rate is abysmally low, but being on a playlist can open up income in other areas from the resulting exposure.
Source: APRA AMCOS