Despite the pandemic, and the vast damage done to the live performance industry, rights society APRA AMCOS saw revenue blow past A$500 million for the first time.
of the two-speed music economy, one where digital is thriving, and those portfolios engaged with live entertainment -- including public performance income and background music royalties -- are in the doldrums.
Those banner results, say the organization, belies “the financial hardship affecting local music creators” whose livelihoods have been crushed by the pandemic.Thanks to audio streaming services and on-demand services, digital revenue was essentially “pandemic proof,” according to a statement accompanying the PRO’s full-year financial results. Digital income grew during the period by 48%, to A$180 million .
Meanwhile, income from international channels topped $60 million , up 10.7% from the record-busting figure of $54.4 million reported last time, a “great result considering the impact of the pandemic, and initial projections of substantial revenue decline around the world,” according to the organization.The news wasn’t all good. Royalties from the public performance space retracted by 12.4% to $62.
Over the reporting period, concerts and events generated just A$5.1 million , down from A$19.6 million the previous year, and A$24.9 million in 2018-19, “devastating the ability of APRA AMCOS' touring and gigging members to earn a living,” the report continues. The health crisis has been crippling to live music and “devastating in the front-line part of the business,” explains Ormston, and its general licensing business, that is, the licensing of background music in restaurants, pubs and clubs, “has been heavily impacted.”On the cost side of business, notes Ormston, “we’ve dug deep, reduced costs, tightened up efficiencies and made tough decisions, like other businesses.
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