PRS for Music has announced a tripling in online royalty revenues for its songwriter and publisher members over the last five years.
The collecting society, which is home to more than 90,000 composers, songwriters and music publishers, said that total invoiced online revenue rose from £11.2m in 2006 to £39.1m in 2011.
The first PRS for Music joint licence, which covers both the mechanical and performing rights of its component organisations MCPS and PRS, was agreed in 2002. The society now administers more than 1,500 online licences.
This is an exceptionally fluid market, and while previous core revenue streams such as mobile phone ringtones have dwindled over the past four years, the continued dominance of stores such as iTunes and Amazon along with the rise in streaming services like Spotify has more than made up for it.
Meanwhile, growth in licensing of non-music on-demand content has delivered a new revenue stream, rising from £0 to £6m in five years, thanks to the success of film and TV downloads, rental services and catch-up TV.
PRS for Music continues to be at the forefront of licensing in the face of regulatory and market challenges through negotiating and administering innovative Pan-European Licences with major multi territory digital services as well as working closely with members to engage UK services through re-aggregated blanket licences.
For more information on PRS for Music’s financial performance, read M’s news item Digital and international boost royalties.
The collecting society, which is home to more than 90,000 composers, songwriters and music publishers, said that total invoiced online revenue rose from £11.2m in 2006 to £39.1m in 2011.
The first PRS for Music joint licence, which covers both the mechanical and performing rights of its component organisations MCPS and PRS, was agreed in 2002. The society now administers more than 1,500 online licences.
This is an exceptionally fluid market, and while previous core revenue streams such as mobile phone ringtones have dwindled over the past four years, the continued dominance of stores such as iTunes and Amazon along with the rise in streaming services like Spotify has more than made up for it.
Meanwhile, growth in licensing of non-music on-demand content has delivered a new revenue stream, rising from £0 to £6m in five years, thanks to the success of film and TV downloads, rental services and catch-up TV.
PRS for Music continues to be at the forefront of licensing in the face of regulatory and market challenges through negotiating and administering innovative Pan-European Licences with major multi territory digital services as well as working closely with members to engage UK services through re-aggregated blanket licences.
For more information on PRS for Music’s financial performance, read M’s news item Digital and international boost royalties.
