4% decline in music royalties revenue 'reflects economy'

REVENUE AT the Irish Music Rights Organisation, the organisation that collects royalties on behalf of songwriters and music publishers, dipped 4 per cent to €36.5 million last year.

Chief executive Victor Finn said the slight fall-off had been expected and reflected the overall economic climate.

“Imro tends to track the economic performance of the hospitality, broadcasting and live music sectors, which continue to be affected by the downturn.”

Some 37 per cent of Imro’s revenue derives from public performance sources, such as shops, bars, offices and live concerts; about 33 per cent is paid by radio and TV broadcasters; and the remainder comes from cable providers and overseas sources.

The association, which is owned by its members, paid €32.16 million in royalties to its 8,500 members last year. Its members, which include most of the country’s top songwriters, receive monthly royalty payments from the organisation. Only 1 per cent of Imro’s total revenue came from online sources last year.

Mr Finn said the organisation was finalising its submission to the copyright review committee was set up by the Department of Jobs, Enterprise and Innovation earlier this year as part of a review of copyright legislation in Ireland.

He said that while Imro endorsed a partnership approach between the music and technology industries, the organisation was keen to ensure remuneration was fully paid to the creative sector.

Imro employs 50 people. Its operating costs stood at €4.69 million last year, fractionally lower than the €4.73 million recorded the previous year. The organisation had a surplus of €54,361 last year.

Members of Imro’s board of directors include songwriters Paul Brady, Eleanor McEvoy and Charlie McGettigan, Irish Film Board chief executive James Hickey, the board’s chairman James Morris and Digital Hub chief executive Philip Flynn.