It’s a story that has been repeated many times in recent years – music revenues are rising and digital is the motor behind it all. It’s never something to be blasé about – especially for those who remember the painful 14 years of decline from the turn of the millennium – and the industry should absolutely take its good news where it can.
In Australia, APRA AMCOS has posted its strongest ever collections for the financial year 2018-2019. It reported net distributable revenues of Aus $410.9m ($279.3m) payable to songwriters, publishers and affiliated societies in the period, an increase of 13.2%. Digital made up Aus $175.4m ($119m) of that – a growth of 30.4%. Within digital, it was subscription video-on-demand that grew the most – increasing by 42% from a year earlier.
APRA AMCOS CEO Dean Ormston told Billboard, “[T]he 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 the business to be growing across the board.”