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PRS reveal a record revenue for 2013 of £665.7 million | PRS reveal a record revenue for 2013 of £665.7 million |
(about 17 hours later) | |
Musicians in the UK earned £665.7 million in royalties last year, according to PRS for Music. | |
The organisation, which pays musicians when their songs are played on radio, or in concert, said revenues had increased 3.7% in the last year. | |
PRS, which pays musicians for their songs being played in public, reported its first ever decline in 2011. | PRS, which pays musicians for their songs being played in public, reported its first ever decline in 2011. |
Last year saw an 11.7% rise in international revenue, with international royalties breaking £200m. | Last year saw an 11.7% rise in international revenue, with international royalties breaking £200m. |
A rise in international demand for UK television shows and streaming services helped 2013's increase in revenue across Europe, North America and Australia. | A rise in international demand for UK television shows and streaming services helped 2013's increase in revenue across Europe, North America and Australia. |
Online revenues reached £61.2m in 2013, an increase of 18.3%, which was helped by new and renewed deals with the likes of Deezer and YouTube. | Online revenues reached £61.2m in 2013, an increase of 18.3%, which was helped by new and renewed deals with the likes of Deezer and YouTube. |
The online market continues to evolve apace, with the increasing transition from downloads to streaming. | The online market continues to evolve apace, with the increasing transition from downloads to streaming. |
Last year's revenue also shows that television and radio continues to provide significant income for songwriters and composers. | Last year's revenue also shows that television and radio continues to provide significant income for songwriters and composers. |
New licensing deals for services such as BT Sport resulted in a revenue of £160.4m, an increase of 4.8%. | New licensing deals for services such as BT Sport resulted in a revenue of £160.4m, an increase of 4.8%. |
However, the closure of HMV branches and other retailers contributed to a 21% decline in revenue from the recorded media market. | However, the closure of HMV branches and other retailers contributed to a 21% decline in revenue from the recorded media market. |
Robert Ashcroft, Chief Executive, PRS for Music, said: "Copyright remains fundamental to our members' success. It's the lifeblood that keeps the wheels of creative production turning and that underpins the global creative economy." | Robert Ashcroft, Chief Executive, PRS for Music, said: "Copyright remains fundamental to our members' success. It's the lifeblood that keeps the wheels of creative production turning and that underpins the global creative economy." |
Last year the BPI estimated that piracy costs the UK music industry around £200 million per year, with a Google transparency report showing the BPI had requested the removal of 35,401,959 URLs by October 2013. | Last year the BPI estimated that piracy costs the UK music industry around £200 million per year, with a Google transparency report showing the BPI had requested the removal of 35,401,959 URLs by October 2013. |
Follow us @BBCNewsbeat on Twitter. | Follow us @BBCNewsbeat on Twitter. |
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