Music licensing organisation APRA AMCOS has posted a 7.2 per cent increase in annual group revenue to $740 million despite the live music sector still struggling to recover years after the COVID crisis shut down venues.
The record result was underpinned by a 22.5 per cent lift in international revenue to $86.1 million and a 10.5 per cent increase in public performance to $132.4 million. Television licensing fees were the only category to post a year-on-year decline from $70.4 million to $68.6 million.
Nonetheless, there were notable on-screen successes. Kids series Bluey doubled its Disney+ viewing time in 2023 to 43.9 billion minutes and is currently the most-watched show in the USA this year, with music helmed by composer Joff Bush.
Meanwhile, the screen adaptation of Tim Minchin’s Roald Dahl’s Matilda the Musical was top 10 in 89 countries on Netflix, highlighting the critical importance of the value of Intellectual Property rights for music creators.
APRA AMCOS CEO Dean Ormston said the organisation’s investment in technology was also putting more money into its members’ hands, quicker, while programs such as SongMakers, SongHubs, and its partnership with Sounds Australia were opening new doors for songwriters and composers.
“We’re excited to see the growing diversity of our new membership and the incredible range of music they’re creating,” he said.
“Our streaming and UGC [user generated content] data offer valuable insight into what audiences are engaging with and the breadth of music they’re discovering. We’re more confident than ever about the export opportunity of Australian music and the results speak for themselves – our members are making an impact worldwide and we’re thrilled to be supporting their journey.
“We cannot, however, overlook the ongoing challenges facing the local live music sector at home. We’re deeply concerned that an entire generation may miss out on seeing new and emerging acts perform live, and that those acts may lose the chance to launch their careers if the decline in live music continues.”
APRA AMCOS has called on the Australian Government to urgently implement a live music tax offset to support existing and new live music venues. Live music revenue is still below pre-Covid levels, with artists missing out on an estimated $600 million in estimated lost income since 2018-19.
APRA AMCOS aggregated data also shows a year-on-year decline in the percentage of local content consumed across streaming services as a whole. It said this highlights the continued need for local content obligations for local music to be seen and heard across all platforms.