PRS for Music saw its income grow to £665.7m in 2013, a 3.7% increase on 2012. There was an 11.7% increase in international revenue, with total international royalties breaking the £200m barrier for the first time, with Mumford and Sons, Arctic Monkeys and EllieGoulding enjoying exceptional success. Across international markets, North America delivered strong (10.7%) growth for PRS for Music members due to the growing cable TV market and internet streaming services. Australia also saw strong growth (18%) thanks to improved deals with local television. Despite the challenging climate in Europe, a strong performance resulted in 15% revenue growth overall. Results in the Asia-Pacific region exceeded expectations across the board with 8.9% growth. Online revenues reached £61.2m in 2013, an increase of 18.3%. Contributors to this growth were new licences and key licence renewals, such as Deezer and YouTube, and some new mandates. The online market continues to evolve apace, with the increasing transition from downloads to streaming. Television and radio continues to provide significant income to PRS for Music songwriters and composers. New licensing deals for services such as BT Sport, renewal of key licences such as Sky and strong sales for TV productions using PRS for Music repertoire resulted in revenue of £160.4m, an increase of 4.8%. In 2013, the challenging retail landscape and the closure of HMV branches contributed to the further decline (21%) of the recorded media market. Despite this decline, the recorded media market still provides significant income of £80.7m.
PRS Royalty revenue by source:
£ Million
|
2013
|
2012
|
%
|
Broadcast
|
160.4
|
153.0
|
4.8
|
Online
|
61.2
|
51.7
|
18.3
|
International
|
201.1
|
180.1
|
11.7
|
Public Performance
|
162.3
|
154.7
|
4.9
|
Recorded Media
|
80.7
|
102.3
|
-21.1
|
Total
|
665.7
|
641.8
|
3.7
|
No comments:
Post a Comment