Sounds Of The South Releases First Of Its Kind Report on ZA Music Industry
The African Music Business curation collective known as Sounds of The South has compiled and released a first-of-its-kind report which unpacks the total economic impact of the South African Music Industry.
The report is a detailed look at how much revenue was generated by the various organisations within the South African music industry. Speaking to their spokesperson, Sounds OF The South (SOTS) stated that foregrounding such information is critical for an ongoing assessment of how well the music industry is doing as well as looking at what else can be done to improve processes within the industry.
The inaugural report looks to set a standard for a continued discussion on the economics of the industry which should be done annually.
An excerpt from the report detailing South Africa’s Music Industry revenues in 2020
One of the key outcomes of the report is a financial assessment of the licensing activities of collective management organisations (CMOs). These organisations play a crucial role in the functioning of the South African music industry. The work they undertake to monetise the use of music had, until now, never been assessed holistically. The report showcases the real rand value of the licensing activities of CMOs and for the first time ever, quantifies the economic impact of these organisations collectively.
Key Takeaways from the report
The South African music industry was estimated to be worth over R2 Billion Rands at the end of the 2020 financial year.
Traditional (non-streaming) sources of publishing revenue account for 75% of all revenue generated
Despite global collections falling by around 9.9% in 2020, South African CMOs still managed to collectively collect just under R900 million in royalties during the FY 2020 year of assessment.
SOTS hopes that the report leads to more discussions and perhaps more quantitative assessments of the health of the industry. To this end, any questions, points of clarity, additions and corrections are welcome and can be directed to: info@soundsofthesouth.africa
Scan this QR code to download the report
Press Coverage
About Sounds of The South
Sounds of the South is a network of curators and music industry professionals that brings together creatives from across SADC. We create a platform and experiences to share news, music and expertise from the Southern parts of Africa.
Email: info@soundsofthesouth.africa