APRA AMCOS celebrate massive year of growth as streaming skyrockets
APRA AMCOS have today released their annual Year In Review report, covering the 2016-2017 year, and have announced a banner year of growth, with streaming proving to be the driving force behind the industry’s success.
Announcing their figures today, APRA AMCOS have shown that the total amount of royalties paid to songwriters, publishers, and affiliated societies equaled $335.9m, showing a 17.7% year on year growth. The next highest area was that of streaming royalties, at $62.2m, which saw an unprecedented 127% year on year growth.
Likewise, video on demand royalties rose by 69.9%, live music royalties by 15.9%, and royalties earned overseas rising by a brilliant 13.6%.
APRA AMCOS Chief Executive Brett Cottle appeared to be rather ecstatic with the results of the last year. “A particularly pleasing aspect of APRA’s revenue growth during the year was that international revenue – at $43.5m for the year – grew at almost exactly the same rate (13.5 per cent) as domestic revenue,” he said. “Suggesting a level of rising and sustainable success by Australian and New Zealand songwriters on the global stage.”
The Year In Review report also outlined a increase in most other areas as well, showing that the APRA AMCOS group revenue rose by 16.1% to a massive $386.6m, while APRA international revenue rose $43.5m, a 13.6% increase on the previous year, and a 99.5% increase since 2013.
Additionally, the report also outlined that the amount of songs and compositions paid by APRA AMCOS is at a huge 1,305,817 for the previous year, while the number of businesses licensed across Australia and New Zealand sits at 145,189.
Brett Cottle closed his report by stating that after 28 years with APRA AMCOS, he would be departing the association. However, he noted that the short-term goals of APRA AMCOS would consist of focusing on “securely deploying our new CLEF system, completing all of the preparations required to go-live with our joint licensing venture in Australia with the record industry –OneMusic Australia, and expanding our Pan Asian digital licensing operation.”
For more information on APRA AMCOS’ 2016-2017 Year In Review, be sure to check out their website.
This article originally appeared on The Industry Observer, which is now part of The Music Network.