In a significant triumph for Malaysia’s music scene, the local industry has achieved a historic revenue milestone, raking in RM303.89 million in 2023. This achievement marks the highest income ever recorded, surpassing the previous record set in 1998 at RM300 million.
The remarkable 57% increase over the last three years has been attributed to various factors, notably a 53% surge in digital sales and a remarkable 70% rise in collections by Collective Management Organizations (CMOs) such as Public Performers Malaysia (PPM), Music Copyright Protection Body Berhad (MACP), and Recording Performers Malaysia Berhad (RPM).
This success has not only elevated the industry’s financial standing but has also propelled local artists onto the international stage. Artists like Ernie Zakri and the group Dolla have garnered international acclaim, with Ernie’s duet “Masing Masing” topping the charts in Indonesia and Dolla featuring in the popular Chinese reality show “Show It All”.
Rosmin Hashim, chairman of the Recording Music Industry Association of Malaysia (RIM), emphasized the critical role of copyright protection in sustaining this growth. Hashim highlighted the necessity to extend copyright protection from 50 years to at least 70 years, aligning Malaysia with international standards.
He pointed out that 73 countries, including 17 of the top 20 music markets globally, have already adopted this extended copyright term, benefiting their respective music industries. Hashim stressed the economic significance of this extension, citing its contribution of an annual RM8.6 billion boost to the Gross Domestic Product (GDP), support for 111,000 jobs, and RM210 million in taxes.
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