Music publishing, live events, internet
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 PRS’s ‘recorded media’ income was slightly up.
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