APRA AMCOS, which is Australia and New Zealand’s performance rights organization, posted records earnings in their latest fiscal year, fueled in large part by streaming music.
In the PRO’s annual report, the organization listed revenues of more than A$470 million ($320 million), which is up by more than 12% over the prior year’s earnings. They also paid a record sum of royalties to songwriters, composers, and publishers during the year: more than A$410 million (close to $280 million). This money represents an increase of more than 13% over the previous year.
Streaming music largely drove these results. Performance revenues tied to digital formats increased by more than 30%, to more than A$175 million (nearly $120 million).
Dean Ormston, who is the CEO of APRA AMCOS, was understandably pleased with the numbers, and indicted that the demand for audio streaming and video continues to be strong. Audio streaming revenue for the organization, from sources such as Apple Music and Spotify, increased by over 28% to more than A$100 million (over $70 million).
But in spite of the continued uptick in digital, the growth rate is actually down from the previous year. Though Ormston said that this was “not unexpected” after years of “rapid and enormous” growth. Indeed, recent percentage gains in streaming over the past few years are nearly impossible to maintain, given that the initial baseline numbers were relatively small. But serious questions over the level of streaming saturation in markets like Australia are starting to be asked.
Interestingly, the largest growth category for the organization is subscription video-on-demand, which covers platforms like Netflix.
This revenue increased by more than 40% to over A$25 million ($18 million).
Ormston went on to say that consumer music consumption has been increasing, and he called this “really good news for us.” He also said that general licensing, which has been the organization’s traditional source of revenue, is up as well. He particularly noted that revenue from live performances is strong and that income from foreign countries is growing, too.
You can find the full report here.