Music creators around the country have seen a significant rise in revenue over the past year, according to APRA AMCOS’ annual financial report.
The comprehensive report shows $410.9m in royalties paid out to songwriters, publishers and affiliated societies during the 2018-19 financial year, which was an increase of 13.2% on the year previous, with digital revenue accounting for $175.4m of that, marking a 30.4% year on year growth.
To highlight just how significant audio streaming has become to Australian creators and publishers, its revenue has increased 4,275% since 2013.
Meanwhile, live music revenue also saw a boost, increasing by 19% and surpassing $30m for the first time ever. The report also showed that live music revenue has grown by 81% over the past decade.
Overall, APRA AMCOS reported a record-breaking $471.8m in total revenue for the 2018-19 financial year, with 44,892 APRA members earning royalties in Australia and 16,720 members earning overseas royalties.
APRA AMCOS group revenue has more than doubled since the 2009-10 financial year in which it was $221.1m.
“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,” APRA AMCOS Chief Executive Dean Ormston said.
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“Australian and New Zealand composers, songwriters and artists are pushing new boundaries and kicking goals in a globally competitive environment and at a time when there is more music content than ever before.
“It’s so vitally important to support and connect our members to new opportunities and acknowledge their achievements — both locally and globally.”
Check out the below for a full revenue breakdown and head to the APRA AMCOS website for more details.
