The Australasian Performing Right Assn. (APRA) has declared total revenue of A$127.2 million ($96. 6 million) for the 2005-06 financial year.
The Australasian Performing Right Assn. (APRA) has declared total revenue of A$127.2 million ($96. 6 million) for the 2005-06 financial year. This marks a growth of 2.9% over the previous financial year, APRA's Sydney-based CEO Brett Cottle said at the APRA annual general meeting Nov. 16 in Sydney.
At an AGM held the following day, the Australasian Mechanical Copyright Owners Society (AMCOS) announced that returns for the 2005-06 year had risen by 8.8% to A$41 million ($31.16 million).
APRA has administered the day-to-day operations of AMCOS since 1997.
The consolidated APRA/AMCOS revenue of A$168.2 million ($127.8 million) sets a new high, says Cottle, who adds, "APRA-AMCOS' final figure for net distributable accorded almost exactly with budget forecasts, owing to solid growth in some licensing areas and continued restraint in expenditure."
With the lowest-ever expense to revenue ratio (12.8%) APRA was able to distribute a total of A$110.3 million ($83.8 million) during the year, a 6.3% increase on the previous year; AMCOS distributed a total of A$35 million ($26.6 million), an increase of 25%.
The rise in revenue was attributed to a 12.5% increase in licence fees from pay television; a 158.3% increase in APRA online revenue (principally Web casting and ringtone transmissions); and a 45.5% increase in AMCOS online revenue with the October 2005 arrival of the Apple iTunes service.
At the APRA AGM, Mike Perjanik and Chris Neal were re-elected as writer directors; Ian James (managing director of Mushroom Music) and Damian Trotter (managing director, Sony/ATV Music Publishing) were re-elected as publisher directors.
At the AMCOS AGM, Matthew Donlevy (managing director Peermusic), Ian James, Norm Lurie (managing director, Music Sales Australia) and Phillip Walker (managing director Origin Music), were re-elected to the board.