ICY MAGAZINE

APRA Posts Best-Ever Financial Year, Powered by Digital Platforms

It’s another record year for APRA AMCOS, which posts best-ever collections of A$471.8 million ($320 million) in its 2018-19 financial period, up 12.3 percent, and will look to fly past the half-billion-dollar milestone next time. 

In its Year In Review, published Friday (Oct. 11), the societies report an all-time-high A$410.9 million ($279.3 million) sum in royalties payable to songwriters, publishers and affiliated societies (net distributable revenue), a jump of 13.2 percent.

The healthy result was powered by, of course, digital revenue which ballooned to A$175.4 million ($119 million), up 30.4 percent. 

“We’re very pleased obviously that a number of growth areas that have been strong for a couple of years remain strong. Audio streaming and video on demand are holding up well,” APRA AMCOS CEO Dean Ormston tells Billboard.

Within the “digital” category, audio streaming – which includes Spotify and Apple Music – pushed ahead to A$105 million ($71 million), up 28.2 percent. Overall, the rate of growth for digital is down slightly on the previous year, but that’s” not unexpected,” notes Ormston. That area in recent years, saw “rapid and enormous take up and growth.”

But the “superstar child” in the digital space, he explains, was the subscription video-on-demand category (SVOD), which grew by almost 42% to A$26.1 million ($17.7 million), a result that can be traced back to Australians’ love affair with Netflix. 

Overall, notes Ormston, “the consumption of music is up, which is really good news for us. What we’re most pleased about is, it’s strong across the business. So in the oldest, traditional part of the business, general licensing, the results are there, the live area which includes concerts as well, has been strong. And foreign (income) continues to grow. You don’t want to be a one horse success. You want to the business to be growing across the board.”

Also blasting to an banner result: income from concerts and live, which hit passed A$30 million ($20 million) for the first time, a gain of 19 percent over the last period. That figure was boosted by tours from Pink, who played 42-dates around the country; Taylor Swift and Bon Jovi’s stadium runs and jaunts by Kendrick Lamar, Celine Dion, Post Malone, Phil Collins and many others.

International revenue was also up at $45.8 million ($31 million) a 4.8% gain on the previous year, the society reports.

APRA AMCOS boasts 103,000 songwriter, music publisher and composer members and over 145,000 licensees. On July 1 of this year APRA AMCOS and PPCA launched OneMusic Australia, a single public performance licensing system. The initial results “are looking really strong,” Ormston says. “It’ll be the 2020-21 finanancial year where the full impact of One Music will come home.”

Download the full report here.

This article originally was published on Billborad

Categories:   Business

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