The Australasian Performing Right Assn. reported a 10% year-on-year rise in net distributable revenue to A$107 million ($78.11 million) in its 2004-05 financial period, APRA CEO Brett Cottle said Nov.
The Australasian Performing Right Assn. reported a 10% year-on-year rise in net distributable revenue to A$107 million ($78.11 million) in its 2004-05 financial period, APRA CEO Brett Cottle said Nov. 17 at the collecting society's annual meeting in Sydney. It was the first time the association's full-year revenue has passed the $100 million mark.
APRA is a non-profit association that collects and distributes performing royalties to 42,000 composers, songwriters and music publishers in Australia and New Zealand.
For the year ended June 30, APRA's foreign royalty receipts for members grew by 10% to $17 million ($12.4 million); domestic revenue from radio broadcasters in Australia and New Zealand increased by 14% to $33 million ($24 million); and license revenue from public performances rose 11% to $26.6 million ($19.4 million). APRA's expense-to-revenue ratio fell below 13%, Cottle added.
Cottle reported that APRA concluded negotiations on several major public performance licenses during the year. Over the next four years, these new agreements will bring rates for Australian public performance licenses more in line with international rates, he said.
Also at the AGM, Eric McCusker and Richard Meale were re-elected as writer directors. John Anderson, Sydney-based managing director of EMI Music Publishing was re-elected as a publisher director. At the board meeting that followed, composer Mike Perjanik was re-elected chairman and Ian James, Melbourne based managing director of Mushroom Music, was re-elected deputy chairman.
APRA also manages the reproduction rights business of its sister collecting society, Australasian Mechanical Copyright Owners Society. AMCOS's net distributable revenue for the year was $32.7 million ($23.8 million), compared to $28.8 million ($21 million) in the last financial year. Operating expenses came to $5 million ($3.65 million), up 7.65%. AMCOS will hold its annual meeting on Wednesday (Nov. 23).