Johannesburg - After managing to collect just over R500 million from music users such as radio stations, promoters, and digital platforms, the South African Music Rights Organisation (Samro) is now eyeing to collect at least R1 billion in its next royalty collection cycle.
Speaking to The Star after posting growth in its royalty collection revenue for the financial year 2021/2022, Samro chairperson Nicholas Maweni said the positive news means that more money will be flowing into the hands of artists, including composers, authors, and publishers, come the upcoming royalty payment cycle this June.
Maweni attributed the increase in royalty collection to fewer Covid-19 restrictions, prudent measures to lower operating costs, increased compliance enforcement with venue owners and promoters, and increased collection from digital music platforms and international partners.
"Collecting more licensing revenue from licensed entities translates to more royalties being available for distribution to our members. The more we collect, the more we are able to distribute to our members," Maweni said.
He said for its previous cycle, Samro was able to collect R515 million in licence and royalty income, up R38 million from the prior year. Investment income also increased by over R10 million, and royalties distributed increased by 7.6% to R253 million, as compared to R235.2 million in 2021.
According to Maweni, this upward royalty collection will translate to more money distributed to musicians, who will enjoy an increase in the total amount available for distribution.
"As Samro continues to build revenue towards its ambitious goal of attaining R1 billion by 2025, we will continue to look at extracting more revenue from digital platforms, government departments and city municipalities, schools, and previously unlicensed sectors like the transport industry, while continuing to improve the broadcast, general licensing, and live industries collections," Maweni added.
Looking ahead to 2023, Maweni says that Samro looks forward to tirelessly collecting more royalties on behalf of its members. While its members bring music notes to life, the organisation remains committed to doing its utmost to ensure that the vestiges of the Covid-19 pandemic do not thwart it from achieving its aims and initiatives of supporting local musicians and strengthening the local industry as a whole.
"As we focus revenue growth towards the R1 billion mark, we look to extract more revenue from digital platforms, municipalities and government departments, schools, and previously unlicensed sectors like the transport industry. Samro still has a firm focus on improving revenue from broadcast, general licensing and live industries,“ he said.
"Samro’s composers, authors, lyricists, and publishers can rest assured that Samro is a proactive and innovative organisation that is always looking for new ways to protect their interests and ensure that they are compensated accurately for their work.“
The Star