APRA AMCOS Generated Over $300 Million In Revenue This Year

While Sounds Australia is set to have its funding cut by the government come the end of 2016, APRA AMCOS have announced a remarkable growth in revenue across the board in the 2015-2016 financial year — $333 million in fact, a growth of 11%.

As digital streaming picks up, the industry body has also experienced a 140% increase in streaming revenue, now at $27.4 million, with digital revenue up 142% on last year, making $67.8 million this year.

The body announced that they experienced a 178% increase in Spotify revenue back in May this year.

APRA AMCOS have paid out 248,994 songwriters, composers and publishers a total of $294.6 million, with the number of works being paid over a million for the first time. 

APRA AMCOS's 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."

Export revenue has increased by 75% in three years to over $38.3 million annually, but despite the successes of Australian artists internationally, Sounds Australia's funding has been axed.