APRA AMCOS has released its 2017/18 annual report with the results showing a record-setting swing away from broadcast into digital revenue.
Reporting a record-high total group revenue of $420.2M, the collective rights management organisation paid $362.8M in royalties to songwriters, publishers and affiliated societies - an 8.2% growth from the previous year.
For the first time in the organisations history, revenue generated from digital sources (audio streaming, video-on-demand, websites and user generated content) also overtook that of traditional broadcast sources (radio and TV).
While the split was narrow with digital accounting for $134.5M and broadcast accounting for $132.6M and both sources reporting growth, digital revenue reported a massive 21.9% year-on-year growth compared to 5.8% in broadcast.
Revenue from audio streaming made up the majority of digital revenue ($81.9M) and proved to be the largest growth source, up 31.9% on the previous year.
Video-on-demand, and websites and user generated content also experienced significant growth up 30.5% and 30.4% respectively.
Public performance revenue (including live music) also increased 10.4% to bring in $82.8M in revenue. Live music accounted for $25.3M of this figure, growing 24%.
Speaking about the results, Chief Executive Dean Ormston said, “This year’s results highlight the strength of the organisation’s financial performance, breadth of member service, and commitment to improving our industry’s ecosystem.
“While these results are strong, there is a real need to consider the longer term sustainability of the Australian music industry. This will be achieved through proactive government and industry policy and investment that prioritises a fair copyright framework, music in education, a strong live music touring circuit, Australian music content, and music export."
See a summary breakdown of the key results below and read the full report here.
- Group revenue of $420.2m surpasses the $400m milestone for the first time
- Total royalties payable to songwriters, publishers and affiliated societies (net distributable revenue) $362.8m, 8.2% year on year growth
- Digital revenue $134.5m, 21.9% year on year growth
- Broadcast revenue $132.6m, 5.8% year on year growth
- Audio streaming revenue $81.9m, 31.9% year on year growth
- Royalties earned overseas $43.7m, marking a 105% growth over a five year period
- Total members who earned royalties 47,648
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