Monday 19 November 2018

Sounds good: Artists share in €28.1m Imro royalty bonanza

The likes of U2, Hozier and Christy Moore shared in a royalty pay-out bonanza of €28.1m made by the Irish Music Rights Organisation (Imro) last year
The likes of U2, Hozier and Christy Moore shared in a royalty pay-out bonanza of €28.1m made by the Irish Music Rights Organisation (Imro) last year

Gordon Deegan

The likes of U2, Hozier and Christy Moore shared in a royalty pay-out bonanza of €28.1m made by the Irish Music Rights Organisation (Imro) last year.

In Imro's annual report, chief executive Vincent Finn said the organisation achieved its highest ever distribution to its members and affiliates in 2017. Mr Finn said that new "over-the-top online services such as Netflix and Amazon Prime are providing new opportunities for Imro members".

Revenues at Imro last year increased by 6pc to €33.3m, with public performance, online and overseas revenue contributing largely to this increase. Income from online increased by 18pc while revenues from 'international' went up by 10pc. Numbers employed by Imro increased from 51 to 60, with staff costs increasing from €3.29m to €3.68m

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