Irish Music Rights Organization Reports Revenue Surge In 2024
Flags a record 16% growth YOY
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.”
👋 Disclosures & Transparency Block
- This story was written with information sourced from Digital Music News.
- We covered it because it’s news of significant growth within a music market.
