Big stream of notes is music to the ears

Original article by Andrew McMillen
The Australian – Page: 4 : 11-Oct-19

APRA-AMCOS has reported record of revenue of $471.8m for 2018-19. The music rights management agency has advised that digital revenue – which includes both streaming audio and video services – rose 30 per cent in 2018-19, to $175.4m. APRA-AMCOS’s annual report also notes that there has been 4,265 per cent growth in audio streaming revenue since 2012-13, while live music revenue has risen from $16.6m in 2009-10 to $30m in 2018-19.

CORPORATES
AUSTRALASIAN PERFORMING RIGHT ASSOCIATION LIMITED, AUSTRALASIAN MECHANICAL COPYRIGHT OWNERS SOCIETY LIMITED, SPOTIFY LIMITED, APPLE MUSIC, FACEBOOK INCORPORATED, YOUTUBE INCORPORATED, INSTAGRAM LLC, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD

Nine: Tech giants must share revenue

Original article by Max Mason
The Australian Financial Review – Page: 17 : 26-Sep-19

Google and Facebook account for the bulk of digital advertising revenue in Australia, and other players collectively receive just $0.29 of every dollar spent. Nine Entertainment Company has called for a "fair" revenue sharing arrangement between the digital giants and content producers, and it argues that a proposed new division within the Australian Competition & Consumer Commission should be responsible for ensuring that commercial contracts are fair to both parties.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

UBS, Macquarie top of the dealmaking charts

Original article by Jonathan Shapiro
The Australian Financial Review – Page: 27 : 4-Jan-19

Data from Dealogic shows that UBS displaced Macquarie as Australia’s highest-earning investment bank in 2018, with revenue of $US219m. It was followed by Macquarie with revenue of $US146m and JP Morgan ($US108m). UBS was also the top revenue-earner in terms of mergers and acquisitions activity, handling some $US752m worth of deals in Australasia. JP Morgan generated the most revenue among investment banks globally, at $US6.9bn.

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, UBS HOLDINGS PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, JP MORGAN AUSTRALIA LIMITED, JP MORGAN AND COMPANY INCORPORATED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BANK OF CHINA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MITSUBISHI UFJ FINANCIAL GROUP INCORPORATED, WESTPAC BANKING CORPORATION – ASX WBC, THE GOLDMAN SACHS GROUP INCORPORATED, MORGAN STANLEY AND COMPANY INCORPORATED, EVERCORE PARTNERS, MOELIS AND COMPANY, CENTERVIEW

Windfall tax take balancing the books

Original article by David Uren
The Australian – Page: 4 : 26-Oct-18

New figures show that the federal government had a balanced Budget in the 12 months to September, with cash receipts and expenditure both totalling $257.4bn. Meanwhile, the deficit for the first three months of 2018-19 was just $10.5bn, well below the forecast of $19.5bn in May. The figures also show that company tax revenue was 13.8 per cent higher than in the first quarter of 2017-8 and personal income tax revenue was 6.3 per cent higher. Finance Minister Mathias Cormann says the improved Budget position will be at risk if Labor wins the next election.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY

Export bonanza will not last long

Original article by Perry Williams
The Australian – Page: 17 & 20 : 2-Oct-18

Revenue from Australia’s commodity exports will increase by 11 per cent in 2018-19 to a record $252bn, according to the Department of Industry, Innovation & Science’s latest quarterly report. However, revenue is expected to decline by five per cent in 2019-20, to $238bn. Revenue from iron ore exports is tipped to total $60.4bn in 2018-19, before falling to $56bn in 2019-20, as factors such as an increase in global supply and lower steel production in China weigh on the iron ore price. Coal export revenue is also expected to fall in 2019-20, although strong growth in LNG export revenue is forecast.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, INPEX CORPORATION, ROYAL DUTCH SHELL PLC, CHEVRON CORPORATION

Corporate take will hit $100b in 2021-22

Original article by Ben Potter
The Australian Financial Review – Page: B6 : 9-May-18

The May 2018 Budget papers show that company tax revenue is forecast to be $A100.7bn in 2021-22, compared with $A83.5bn in 2017-18. The rally in commodity prices has bolstered company tax revenue, although economists caution that this may not be sustainable. In addition, the corporate tax take could fall in future years if the government passes legislation for an across-the-board reduction in the company tax rate. The government expects companies to increase capital investment as a result of the tax cuts, but factors such as a recession could dampen investment intentions.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, DELOITTE ACCESS ECONOMICS PTY LTD

ASIC a cash cow gouging millions in excessive fees

Original article by Anthony Klan
The Australian – Page: 2 : 24-Apr-18

Data shows that the Australian Securities & Investments Commission generated revenue of $A801.7m in fees during 2016-17, while it issued $A118.5m worth of fines. ASIC received a total of $A341.6m in federal government funding for the financial year, down from $A350m in 2012-13. However, the government has since ended taxpayer funding of ASIC in favour of an industry-funded system. The government had previously announced in 2014 that ASIC’s funding would be reduced by $A120m over four years.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Hit black economy and raise billions

Original article by Adam Creighton
The Australian – Page: 21 : 20-Mar-18

A report from KPMG concludes that targeting the black economy could generate revenue of at least $A5.8bn for the Federal Government. This includes an extra $A2.5bn in business taxes and an additional $A1.2bn in goods and services tax revenue. KPMG’s recommendations include banning income tax deductions for wages paid in cash and prohibiting cash transactions of more than $A100,000. The Government’s May 2018 Budget is expected to include its response to the final report of a black economy taskforce.

CORPORATES
KPMG AUSTRALIA PTY LTD, AUSTRALIAN TAXATION OFFICE, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA

Ad spend to slow, but still grow, next year

Original article by Max Mason
The Australian Financial Review – Page: 29 : 11-Dec-17

IPG Mediabrands has forecast that advertising revenue in Australia will rise by 2.9 per cent in 2018, following 3.2 per cent growth in 2017. Spending on advertising is expected to top $A16bn in 2018, with the digital advertising sector forecast to be worth $A9bn. Expenditure on linear TV advertising is expected to fall by four per cent, while digital video advertising is tipped to grow by 21.7 per cent as traditional TV networks continue to expand their streaming video presence. Print advertising revenue is forecast to fall by more than 20 per cent.

CORPORATES
IPG MEDIABRANDS, MAGNA

Google ‘misled’ Senate on revenue

Original article by Darren Davidson
The Australian – Page: 1 & 2 : 23-Aug-17

Executives from Google and Facebook appeared before a Senate committee on 22 August. Google’s MD for Australia and New Zealand, Jason Pellegrino, told the inquiry into the future of public-interest journalism that the digital giant boasted gross advertising revenue of $1.1bn in Australia in 2016. Senator Nick Xenophon questioned this figure, citing advertising industry estimates which suggest that Google’s annual revenue was around $A3bn. Meanwhile, Facebook said its gross revenue in Australia was $A326m in 2016.

CORPORATES
GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NICK XENOPHON TEAM, MELBOURNE BUSINESS SCHOOL, MORGAN STANLEY AUSTRALIA LIMITED