PRS for Music, the organization that represents the rights of British songwriters, composers and music publishers, collected a record £811 million ($990 million) for its members last year, an 8.7% …
Royalties generated from online platforms, including downloads, online video games, and streaming services such as Spotify and Apple Music, saw the most significant uplift at 24.2% to £179.1 million , with U.K. songwriters contributing to many of the biggest streamed hits like “Someone You Loved” by Lewis Capaldi and “Old Town Road” by Lil Nas X, the two highest performing songs in the official U.K. charts last year.
Music used across video-on-demand offerings also contributed to the uplift in online revenue. Income from broadcasters totaled £131 million , up 2.4% on 2018, despite a decline in linear TV viewing and the rise in popularity of VOD. It was a good year for the live music sector, with royalties from live performances climbing 38.8% to £54 million in 2019. A rise in music festivals taking place across the U.K., such as TRNSMT, Parklife, British Summer Time, Boomtown and the return of Glastonbury, contributed to this result. High-selling U.K. concerts from PRS members Spice Girls and Take That and U.K.
Despite the stellar results for last year, Martin said that due to the coronavirus pandemic, the music industry “faces unprecedented times ahead.”
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