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PRS international revenues up 250% in a decade
By CMU Editorial | Published on Friday 2 July 2010
Collecting society PRS For Music has announced that the royalties it collects for UK songwriters from non-UK broadcasters and promoters has risen 250% in the last decade, so that it is now worth £166.9 million a year. The huge rise is mainly down to the society getting better at collecting monies from non-UK licensees.
In its stats-filled statement, PRS revealed that the US, France, Germany and Japan continue to provide the most royalty revenues, that Brazil and Romania have been the fastest growing markets for UK songs, that royalties from music used on TV shows is now worth over £50 million a year in itself, partly due the success of TV formats like ‘X-Factor’ and the work of British broadcasters selling their programmes (complete with soundtracks) abroad, and that publishing revenue from non-UK digital services, while growing rapidly, was still just £1.8 million in 2009.
PRS CEO Robert Ashcroft told CMU yesterday: “These are very strong figures which reaffirm the success of British songwriters and the British music industry on the global stage. Even in a recession, British musical talent is able to the make money in markets ranging from Brazil to Romania. Music is a great British success story around the globe and we are working hard to continue this growth throughout 2010”.
