Australasian music rights organisation APRA AMCOS cites a “robust digital market” for its record revenues of A$420.2m (US $299m) in 2017-2018.
Income generated from digital sources surpassed broadcast revenue for the first time, accounting for A$134.5m – nearly a third of all revenue.
Of that A$134.5m digital total, A$81.9m came from audio streaming income.
Digital grew 21.9% from the previous year’s figure of A$110.3m.
Income sources categorised as digital include audio streaming (up 31.9%), video-on-demand (up 30.5%) and websites and User Generated Content (UGC) (up 30.4%).
According to the organisation’s full-year financial report, royalties to its songwriters, publishers and affiliated societies increased 8.2% year on year to A$362.8m.
Royalties were also paid on 10% more songs and compositions than last year, with 1,441,485 works generating earnings for 47,648 songwriter, composer and publisher members.
APRA AMCOS says that the growth in UGC royalties is owed to the “landmark licensing agreement” with Facebook, which covers the use of music on Facebook, Instagram, Oculus, and Messenger.
Earnings from television and radio, A$85.7m and A$46.9m, respectively, combined for A$132.6m in revenue, while the income from public performance (including live music) totaled A$85.8m, an increase of 10.4% from last year’s figure.
“While these results are strong, there is a real need to consider the longer term sustainability of the Australian music industry.”
Dean Ormston, APRA AMCOS
Elsewhere in the financial report, A$25.3m was earned from the concert sector, which saw 24% year on year growth.
APRA revenue from international sources has grown 105% over the past five financial years, with A$43.7m collected in 2017-18.
“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,” said Chief Executive Dean Ormston, who stepped into the role on July 1, following longtime CEO Brett Cottle’s retirement.
“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.Music Business Worldwide