AGM MACP 2024
MACP's 34th Annual General Meeting
Celebrating Achievements & Industry Transformation
The 34th Annual General Meeting of Music Authors’ Copyright Protection (MACP) Berhad took place earlier this week on the 24th June 2024, at Bukit Kiara Equestrian & Resort in Kuala Lumpur. The event drew together over 100 MACP members. It marked a significant occasion to reflect on the organisation’s accomplishment and development in the evolving industry’s landscape throughout 2023. Central to the discussions were key issues affecting members, with strong emphasis on enhancing support for efforts, programmes and benefit to safeguard the rights of valued members.
In 2023, the global music industry experience a notable resurgence, signalling a return to economic vitality and normalcy, particularly within the entertainment sector. This mirrored in MACP’s growth in its overall revenue, notably through a nearly twofold increase in Public Performance Licensing. The surge was fuelled by the pent-up demand for major live events following the pandemic, contributing not only to local concerts but also to international performances headlined by renowned artists such as BlackPink, Jacky Cheung and Coldplay, which set new attendance records.
Furthermore, April this year saw MACP revise its membership criteria, reducing the requirement for composers to join from five works to just one. This adjustment offers better opportunity for aspiring creators to seek MACP membership and earn royalties from digital platforms such as YouTube, Spotify, TikTok and others. MACP aims for this change to empower new talents to unleash their creativity without hindrance.
The 34th AGM underscored MACP’s unwavering commitment to nurturing a dynamic music industry, MACP continues to play a pivotal role in advocating for its members’ interests.
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