IMRO

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Annual Report 2001

Chief Executive's Statement

2001 was an another significant year for IMRO in terms of revenues generated and royalty payments to songwriters, composers and publishers, a year which saw Gross Licence Revenue increase by 8.5% to €26.8m. A buoyant Irish economy contributed significantly to the level of Public Performance Revenue collected by IMRO in 2001 which was up by 7% to €10.1m.

IMRO has continued to focus on protecting the interests of all those it represents both here in Ireland and abroad. It worked closely with government on the implementation of the new Copyright and Related Rights Act and has been the instrumental force behind the legal proceedings initiated against the American administration regarding shortcomings in copyright protection afforded to European songwriters and publishers when their works are publicly performed in the U.S.

Closer to home IMRO continues to play an important role in the development of the domestic Irish music market. The organisation has supported a wide range of organisations and music initiatives and events over the years which has resulted in an industry that continues to gain confidence and international respect. IMRO is also a key funding partner and contributor to the Irish Music Board which was set up last year to further the development of the industry as a whole.

IMRO is keenly aware of the challenges and opportunities that face the global music market brought on by technological advancements and it has positioned itself to exploit these technologies to enhance our existing collection and distribution procedures.

On the membership front IMRO continues to invest significant resources in the area of member services and development. IMRO is committed to providing the very highest level of service to all our members whilst at the same time maximising the level of royalties paid out yearly. Many of these services will focus on online communications and initiatives such as the facilities already introduced through the new IMRO website launched last year. Additional online services will be introduced in the latter end of 2002.

I would like to thank the Board of Directors for their continued and valued support to the management team over the course of the year. And I would also like to express my sincere thanks to all the management and staff of IMRO whose dedication and committed hard work has resulted in another record year for IMRO.

Adrian Gaffney
Chief Executive

Hightlights in 2001