Australia's PPCA has had another record year.
The neighboring rights collecting society said it had distributed a record sum of Australian $33.6 million ($29.5 million) to its member labels and recording artists for the 2012/2013 financial year, up nearly 16% on the Australian $29 million ($25 million) distributed in the previous period.
The royalties were paid in December 2013 and announced today.
“Whilst we are delighted to be able to provide increased distributions to artists and labels,” comments the organization’s CEO Dan Rosen, “PPCA is conscious that there are still a number of areas where creators, and those who invest in them, are not yet adequately compensated for their creative efforts and investment. PPCA will continue to work hard to achieve fair returns for our stakeholder’s creative content.”
Established in 1969, the PPCA licenses radio and television broadcasters and Internet webcasters, and licenses more than 55,000 businesses across Australia for the public performance of sound recordings.
Double-digit growth has been the norm for PPCA in recent years. For its 2011/12 financial year, the society reported 13% growth. For the year ending June 2008, the society had "distributable surplus" of Australian $14.5 million ($15.3 million), considerably less than half the sum reported most recently.