Irish Music Rights Organization Reports Revenue Surge In 2024

The Irish Music Rights Organization (IMRO) has announced record-breaking revenues for 2024, highlighting a 16% increase on 2023 figures.

The stats:

• Total income was €53 million ($60.74m), a 25% increase on 2022 figures.

• Distributions to songwriters and publishers reached €46 million ($52.66m), 22% up on 2023 and a 62% gain since 2022.

• Concert revenues increased 29% YOY to €9.1 million ($10.43m).

• Broadcast revenue hit €10.4 million ($11.92m), a 6% rise on 2023.

• Multi-territorial online revenue reached €6.3 million ($7.22m) in 2024, a 59% increase over 2023.

• As per Digital Music News, the growth is down to both “broader market momentum and IMRO’s expanding membership.”

• New member admissions were up 63%, bringing total global membership to over 26,500 music creators across 180 countries.

Evolution:

• In 2025 IMRO will launch a new self-licensing portal, “which will simplify the process for businesses to obtain licenses and ensure fair remuneration for commercial music use.”

• It will also streamline its tariffs system to “boost licensing and public performance royalty collections in Ireland at lower costs.”

What they said:

• IMRO CEO Victor Finn: “This year’s results reflect not just the strength and diversity of our members’ repertoires worldwide, but also IMRO’s ongoing commitment to championing music creators in a rapidly evolving industry. In particular, our work on artificial intelligence and copyright protections places us at the forefront of global policy and advocacy for music creators.”