UK collection society PRS for Music have announced a record
£641.8m collected for songwriter, composer and music publisher members in 2012,
equating to a 1.7% rise on 2011. A focus on efficiency resulted in a £3.6m
reduction in overall costs, equivalent to 4.6%, meaning a total of £571.9m was
paid to members (up 2.6% on 2011).
Royalties from online and digital services topped £51m for
the first time, up 32.2% on 2011. Royalties from online services now provide a
larger income stream for music creators than radio, live or the pub sector, but
perhaps unsurprisingly, royalties collected from live music fell by 14.2% to
£19.3m as fewer live events occurred in 2012. Collections from CD sales were also down, but overall
International revenue, which has seen considerable growth in the last decade, was down 4% in 2012, a result, in part, of exchange rate losses. However, this income stream is still the biggest single revenue generator for PRS members, bringing in £180.1 million.
2011 figures here: http://www.prsformusic.com/SiteCollectionDocuments/PressPacks/March%202012%20-%20Financial%20results%20briefing%20paper.pdf
International revenue, which has seen considerable growth in the last decade, was down 4% in 2012, a result, in part, of exchange rate losses. However, this income stream is still the biggest single revenue generator for PRS members, bringing in £180.1 million.
2011 figures here: http://www.prsformusic.com/SiteCollectionDocuments/PressPacks/March%202012%20-%20Financial%20results%20briefing%20paper.pdf
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