APRA AMCOS have unveiled their annual financial report for 2019, and the findings are actually surprisingly good!
One of the most notable takeaways from this year's report is that Australian musicians, producers and performers have seen a prominent rise in revenue in 2019, with $410.9 million in royalties being paid out to songwriters, publishers and industry societies during the financial year of 2018-19. It's a 13.2% increase from the year before, and what's interesting is that digital revenue accounts for a whopping $175.4m of that sum. That's a mark up of 30.4% from last year - not bad at all.
What's really incredible, however, is the fact that audio streaming revenue in Australia has increased by 4,275% since 2013, which is also indicative of worldwide streaming trends from that period. APRA AMCOS also reported that live music revenue has seen a 19% increase to surpass $30 million for the first time ever, as well as highlighting that live music revenue has grown by 81% in the last ten years.
In a statement celebrating the growth, APRA AMCOS Chief Executive Dean Ormston said that “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.”
Read the full APRA AMCOS report here.