Milestone year: Record one third of a billion dollars in revenue following 11% growth
APRA AMCOS today announced a record annual revenue figure of $333m; 14 per cent growth in payments to songwriters, composers and publishers and a huge increase of more than $20m in digital revenue.
While other sectors of the music industry have experienced marked fluctuations, APRA AMCOS has enjoyed a reliable trajectory of income growth in recent years. Over the past three years, export revenue has increased by 75 per cent to more than $38.3m per annum, highlighting the enormous
growth in the number and success of Australasians on the world stage.
Just as radio and records revolutionised the music industry at the time of APRA’s foundation 90 years ago, streaming is now having a similar effect as subscription services gain traction with Australasian consumers. Royalty collections from streaming services were up 140 per cent year on year, to $27.4m.
Licence fees collected from all digital providers – including download services, streaming services, video on demand, websites and user-generated services – increased by a similar percentage, and is now significantly greater than, for example, traditional radio broadcasting ($45.3m).
APRA AMCOS Chief Executive, Brett Cottle said, “While revenue from digital services is growing rapidly, the sheer volume of music being consumed is growing exponentially, which means that the fruits of this growth are being spread over a vastly increased pool of songwriters.”
Public performance licensing, APRA AMCOS’ core activity for much of the last 90 years, continued to provide increased revenue for songwriters, composers and publishers, reaching over $70m for the year. Achieving 6.8 per cent growth from its 142,000 licensed businesses, APRA AMCOS performed well above the global benchmark of 3.8 per cent growth.1
Songwriters remained prolific creators and performers in the financial year 2015-2016. The number of works (songs, compositions) generating an income reached more than a million for the first time, resulting in payments to over 248,000 songwriters, composers and publishers equalling more than $294.6m (across APRA and AMCOS).
Brett Cottle said, “At a time when copyright is working in practice as it should, and just when the culturally-rich and economically vital business of music is getting back on its feet, it’s difficult to fathom why measures such as those relating to Safe Harbour expansion or so-called ‘fair use’ should be contemplated by government”.Visit Year in Review site
1 CISAC Annual Report 2016 (Performing rights collections, page 38)