International Income From British Music Doubles In The Last Decade
PRS for Music announced today that British music abroad is so popular; revenue earned from its use has doubled since 2002. During 2011, UK songwriters and composers earned £187.7m globally, up 10.6% on 2010 (£169.6m).
The organisation represents 90,000 songwriters, composers and music publishers, collecting royalties from 150 territories around the world. Growth of £100m in international royalties since 2002 is attributed to both the widespread consumption of British music and improved licensing of its use and efficiency of distribution around the world. Due to the success of its music creators, the UK is one of only three countries in the world that is a net exporter of music.
Highlights:
The success of stadium acts such as The Rolling Stones, Muse, U2, and Paul McCartney means live music income has seen substantial growth from £2.2m to £21 million in the past decade.
Meanwhile, many chart hits by Adele, Rhianna, The Wanted and Nicki Minaj are penned by British songwriters, meaning record earnings in the past 12 months.
Revenues from UK music used on television have doubled from £29 million to £60 million due to the availability of more channels, wider distribution of British repertoire through formats such as X Factor and Pop Idol and the popularity of shows such as CSI and Grey’s Anatomy that use music by British songwriters.
Online income from downloads and streaming services has grown rapidly. While still comparatively low at £2million, the figures look set to more than double by 2022.
Brazil continues to be an important source of income for PRS for Music members, seeing an increase of £1.6 million in the last two years. This is due to unprecedented investment in excellent concert venues and live music facilities, fuelled by the country’s successful bids to host the 2014 FIFA World Cup and the Olympic Games 2016, as well as improvements in licensing by the local society.
The collecting society predicts continued healthy growth from established markets in Europe, Asia and South America over the next five years and beyond, and is working hard to unlock revenues from more emerging markets such as India, China and Eastern Europe.
Karen Buse, Director of International, of PRS for Music said: “These are very strong trends which underpin the success of our songwriters and the UK music industry on the global stage. While it has been a particularly strong year for music distribution via platforms such as the 2012 London Olympics this much is clear: music is a great British success story. It contributes significantly to our economy and promotes our endemic creativity and culture. “
Source: PRS for Music
