PETALING JAYA: Local music industry achieved a historic revenue of RM303.89 million in 2023, marking the highest income ever recorded, surpassing the previous record of RM300 million set in 1998.
According to Scoop, the 57% increase over the last three years, was driven by a 53% rise in digital sales and a 70% surge in collections by Collective Management Organizations such as Public Performers Malaysia (PPM), Music Copyright Protection Body Berhad (MACP) and Recording Performers Malaysia Berhad (RPM).
The industry’s success also saw local artists like Ernie Zakri and the group Dolla gaining international fame; Ernie’s topping the charts in Indonesia with the duet “Masing Masing” and Dolla’s featuring in Chinese reality show “Show It All”.
Recording Music Industry Association of Malaysia (RIM) chairman Rosmin Hashim said the industry relies on royalties from recordings and the copyright protection needs to be extended from 50 years to at least 70 years.
“So far, 73 countries extend the copyright term of sound recordings and song works for at least 70 years.
“This includes 17 of the top 20 music markets (in terms of trade revenue) in the world which also includes some of Malaysia’s main trading partners such as Singapore, the United States and Japan,“ he said at the 2024 Music Industry Mercy Donation Ceremony organised by RIM and PPM, recently.
He asked the government to consider this extension and that it contributes to the economy of the music industry, including an annual RM8.6 billion boost to the Gross Domestic Product (GDP), support for 111,000 jobs and RM210 million in taxes.
Rosmin also added that RIM has been combating piracy, particularly against unauthorised sales of music on platforms like Shopee, Lazada and Facebook and the misuse of music on stream ripping sites.
The programme, which allocates RM100,000 annually to aid musicians facing financial or health challenges, began its support during the pandemic with an emergency fund initially amounting to RM50,000 to assist those in the industry affected by the crisis.
