Downloading, streaming annual earnings greater than radio, figures show
Revenue from downloading and streaming is now greater than that from traditional radio broadcasting — once the leading source of licensing income — an industry body has announced.
Australian songwriters, composers and publishers made a record $333 million in the past year, the Australian Performing Right Association Australasian Mechanical Copyright Owners Society (APRA AMCOS) has announced, up 11 per cent on the previous year.
APRA AMCOS handles licensing and royalties for more than 87,000 people, including songwriters, composers and publishers.
Royalty collections from streaming services increased by 140 per cent in 2015-16, to $27.4 million.
Licensing revenue from all digital providers totalled $67.8 million and now exceeds income from radio broadcasting, which was $45.3 million last year.
APRA AMCOS head of revenue Richard Mallet said it was not all bad news for radio.
"What those figures don't show is that we had an increase in radio year on year and it's just that the increase in streaming is so dramatic year on year, that's what takes everybody's attention," he said.
"But radio is doing more than just holding its own, it's increasing as well."
'Successful streaming services behind the increase'
Sony ATV Music Publishing Australia managing director Damian Trotter said successful streaming services were behind the increase in digital revenue.
"Spotify and Apple have grown quite dramatically over the past couple of years in particular," Mr Trotter said.
"People are subscribing and signing up to those in large numbers and so that has enhanced the big increase in the percentage, year on year, in streaming services."
Mr Trotter said while the percentage increase in digital revenue was dramatic, it was still coming off a fairly low base.
"The actual revenues are still yet to flow through in an incredibly meaningful ways to all the songwriters," Mr Trotter said.
Mr Mallet said over the past three years, export revenue also increased by 75 per cent.
"I think that shows that Australian artists are in high demand," he said.
"People want to hear their music both locally and overseas and that's got to be a good thing."