APRA AMCOS has announced a record-breaking group revenue of $740 million for the last financial year, marking a 7.2% increase from the previous year.
Despite this financial success, the organisation’s latest Year In Review report highlights ongoing concerns about the local live music sector, which has yet to recover to pre-Covid levels.
Public performance revenue has seen significant growth, particularly in retail, hospitality, fitness, and background music. Concerts and festivals also posted an 8.4% rise in revenue, hitting $37.4 million, largely driven by international tours from artists like Taylor Swift and P!nk. However, local live music venues and artist earnings continue to struggle. APRA AMCOS estimates that Australian artists have lost $600 million in live earnings since 2019, with the number of licensed venues still below pre-pandemic levels.
APRA AMCOS’ Year in Review
- Record high group revenue: group revenue tops $740m, up 7.2% from last financial year, with members being paid more quickly through investment in technology and innovation
- AU/NZ writers taking the world by storm: international revenue at all-time high, reaching a record $86.1m, up 22.5% from last financial year
- New members’ music reflects diversity of Australasia: top UGC and streaming data from new members showcases mix of backgrounds, ethnicities and musical genres
- Live local music crisis continues: live music revenue and venues still below pre-Covid levels, staggering $600m in estimated lost income for artists since FY19
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The digital sector remains the largest contributor to APRA AMCOS’s revenue, accounting for nearly half of the total income. Video on Demand has seen growth of 9.4% over the last year, while international revenue from Australian and Aotearoa New Zealand songwriters reached a record $86.1 million, up 22.5%. APRA AMCOS has highlighted the growing success of its members on the world stage, with songwriters performing at major festivals like Coachella and Glastonbury, and artists such as Dom Dolla, Troye Sivan, and Kylie Minogue receiving Grammy nominations.
New member data reflects a shift toward greater diversity within the music industry. User Generated Content (UGC) and streaming data from these new members showcase a wide range of backgrounds, ethnicities, and genres. Artists such as Samoan Australian R&B singer JKING, who achieved success through short-form video platforms, are examples of how the digital landscape is offering new pathways to recognition.
Gender diversity also remains a priority for APRA AMCOS, with initiatives such as the 23% mentorship program and The Connect Sessions aiming to increase female participation. The organisation reported 66% female participation across its creative programs. Similarly, the National Aboriginal and Torres Strait Islander Music Office (NATSIMO) continues to offer skill development and professional growth opportunities for Indigenous musicians, with programs like the Screen Composer Intensive and SAE production scholarships.
Despite the positive financial outcomes, APRA AMCOS is urging for greater support for the live music industry. Dean Ormston, CEO of APRA AMCOS, expressed concern about the future of local live performances, particularly for emerging artists who rely on live venues for exposure. He renewed calls for the Australian government to implement a live music tax offset, which would support grassroots venues and artists, ensuring that live music remains an integral part of the cultural landscape.
For further information and to read the full report, visit apraamcos.com.au/yearinreview24
