South Africa, Feb. 19 -- At its 2024 Annual General Meeting (AGM) held on 5 December, Samro announced a significant 15.2% increase in Total Company Licence Revenue, rising from R593.7m in 2023 to R683.8m in 2024. This growth is driven by diversified licensing that has unlocked new revenue streams and reinforced Samro's commitment to maximising value for its members. Additionally, new business contributed R35.9m in total revenue, reflecting a 32.5% year-on-year increase, while digital revenue, a key growth area, surged by 56.3%, highlighting a marked shift in music consumption behaviour.

For the 2023/2024 financial year, Samro achieved a record-high distribution of R429m to its members, representing a 63.8% increase from the previous year...