More Than Half A Billion Dollars Paid To Music Creators

APRA AMCOS’ highly anticipated 2012-22 financial year report has dropped.

The detailed breakdown from the organisation reveals they generated $616.5 million in royalty value for the first time, up from $506.9 million last year, while net distributable revenue (royalty money payable) increased to $534.3m, up more than 20% from the year previous.

Strong growth has also been reported for digital revenue.

“Achieving a record result in the third financial year affected by the pandemic is due in large part to the notable 40.2% uplift in digital business locally and through APRA AMCOS’ Multi-Territory Licensing Hub,” the report notes.

“FY22 marks the first time digital sources represent more than half of total revenue, accounting for $338 million.”

APRA AMCOS CEO Dean Ormston said: “We are acutely aware that for many of our members, our financial year results bely the day-to-day reality of trying to earn a living as a music creator.

“As I flagged in this report last year, COVID-19 highlighted the dichotomy in the contemporary music industry globally – an increasingly digital business that continues a trajectory of strong growth, but for many music creators doesn’t generate meaningful return, as against live music performance which can provide a meaningful and reliable return but has been decimated by COVID-19.”

While the financial report does show a dip in concert and festival revenue, APRA AMCOS notes that May and June of this year were higher than expected and they are hopeful that trend will continue as the industry continues to emerge from COVID.

“The realities of developing and maintaining a sustainable career in the contemporary music industry have underscored our work to facilitate discussion across the industry, and in developing whole of sector policy positions and government advocacy strategies,” Ormston added.

“In Australia and New Zealand, we have two music-loving nations that both have the potential to become global music powerhouses and ultimately net exporters of music.

“But to achieve this, it is essential to drive strategies to create live performance opportunities, a greater presence of local content across all media and effective cross-government portfolio policy development.

“In Australia, we are now advocating this vision and a clear set of policy priorities to the new Australian Federal Government, and have submitted to the Australian National Cultural Policy Review.”

In the submission, APRA AMCOS calls for the creation of a national music development agency, and six priority areas for government: 

1. First Nations music priorities 

2. Immediate investment and support 

3. Supercharge policy and investment: ‘Music Australia’ 

4. Strong intellectual property framework 

5. Visibility and prominence of Australian music content 

6. National catalyst for live music with a tax offset 

APRA AMCOS has also today revealed the Top 50 songs streamed in Australia written by its members, with The Kid LAROI's Stay topping the list, followed by PNAU’s remix of Elton John and Dua Lipa hit Cold Heart, Vance Joy’s Missing Piece, Shouse’s Love Tonight, and Joy’s Riptide in the Top 5. Check out the full list here.