APRA AMCOS have today released their annual revenue figures, showing a marked growth in digital revenue, and payments to songwriters, composers and publishers.
Announcing an annual revenue figure of $333 million, which shows an 11 percent increase on the previous year. Other highlights include a 142 percent increase in digital revenue with a $67.8 million figure, and a 140 percent increase of streaming revenue, with a figure of $27.4 million.
APRA AMCOS have been able to maintain a positive trend of income growth in the recent years, with the majority of this success coming from digital avenues, such as streaming and other digital media sales.
Likewise, export revenue has seen a 75 percent increase to $38.3 million over the last three years, showing that Australians are making an immense impact overseas, with a large amount of success for these artists coming as a result of this.
The success that they have seen is a hugely positive sign for the Australian music industry, proving that the constant feelings of doom and gloom that has been forced into our minds over countless years is nowhere near as bad as we think.
Hopefully, this upward trend of revenue for the APRA AMCOS will continue so as to further complement the already amazing success that the Australian music industry has seen.
