Copyright Agency manages Resale Royalty Scheme
April 2, 2014 | Indigenous
Copyright Agency is appointed by the Australian Government to manage the Resale Royalty Scheme for artists, which began in June 2010. Here are the latest statistics about the scheme.
Since its start on 9 June 2010 until 9 February 2014, the scheme has generated royalties:
- Totalling more than $2.28 million
- From more than 8,000 resales
- For more than 820 artists
- Lowest royalty $50
- Highest royalty $55,000
- Most royalties have been between $50 and $500
- Over 65% of the artists receiving royalties are Aboriginal or Torres Strait Islander artists and they have received 50% of the total royalties generated
- Of the 50 artists who have received most money under the scheme, 26 are Aboriginal or Torres Strait Islander
- Most artists have received one or two royalty payments, but some have received multiple payments
- While there were costs associated with establishment of the scheme, particularly in systems set-up, education and awareness activities, the royalties generated for artists already exceeds the funding provided by Government for implementation of the scheme.
A review of the scheme was conducted by the Australian Government in 2013 but the final report has not been released as yet.
For further information about the scheme’s history and feedback from artists, see the Resale Royalty website.