APRA AMCOS announced record annual revenues

APRA AMCOS has enjoyed a reliable trajectory of income growth in recent years

APRA AMCOS has announced a record annual revenue figure of $333m, 14% growth in payments to songwriters, composers and publishers and an 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% to more than $38.3m per annum, highlighting the enormous growth in the number and success of Australasians on the world stage.

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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% 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 are 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.”

Other highlights:

• Record rate of revenue growth as well as a record revenue figure for APRA as a stand-alone entity: revenue grew by more than 12% to $258m.
• Record revenue figure for AMCOS $75m representing 7% lift.
• Broadcast division saw growth in revenue from subscription television reach $24m (up 13%).
• Licensing operations in New Zealand contributed approximately A$40m, or circa 13.6% to the APRA AMCOS domestic revenue figure of $294m.

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