The Southern African Music Rights Organisation (SAMRO) has announced that its royalty distribution figures grew significantly between July 1st, 2009 and June 30th, 2010.
SAMRO reported a substantial increase in group gross income – by R31.7 million or 9% - for the same period. These figures were announced at the AGM (Annual General Meeting) held on November 26th at SAMRO Place and attended by a substantial number of members.
Annette Emdon, Chairman of SAMRO’s Board, said “It is especially gratifying to report such strong income and distribution figures during a period that was defined by the global economic crisis. As the Board and management, we are also very pleased to report that SAMRO’s operating costs were kept contained – again not an easy task given the macro circumstances that prevailed during the year under review. But we are gratified that a concerted cost containment programme implemented by SAMRO’s management team over the past year is showing real benefits - and addresses an area of concern for some members.”