This translated into a 3.7 percent increase on 2012’s £641.8m, and saw net distributable revenue - payable to members - rise to a record £596m.
In its financial results published today, the collecting society reported that international income broke the £200m barrier for the first time, rising 11.7 percent to £201.1m, up from £180.1m in 2012.
This was fuelled by popularity of British songwriters such as Mumford & Sons, Arctic Monkeys and Ellie Goulding.
North America delivered strong growth (10.7 percent) due to the growing cable TV market and internet streaming services.
Elsewhere, Australia saw strong growth (18 percent), thanks to improved deals with local television. And, despite an ongoing challenging climate in Europe, revenue rose by 15 percent across the region.
PRS for Music reported that online revenues continued their upward trajectory to reach £61.2m in 2013, an increase of 18.3 percent on 2012.
New licences and key licence renewals with the likes of Deezer and YouTube helped the sector to grow.
TV and radio revenues continued to provide significant income to PRS for Music songwriters and composers during 2013.
New licensing deals for services such as BT Sport, renewal of key licences such as Sky and strong sales for TV productions using PRS for Music repertoire saw revenues rise by 4.8 percent last year to £160.4m, up from £153m in 2012.
In 2013, the challenging retail landscape and the closure of HMV branches contributed to a 21 percent decline in the recorded media market. But, despite this fall, the recorded media market still provided £80.7m in income for membera.
Robert Ashcroft, chief executive of PRS for Music, said: ‘As one of only three net exporters of music, these financial results underline the strength of our repertoire.
‘By securing a series of new licensing deals at home, online and abroad, we’re successfully growing the market for our members.
‘PRS for Music’s vital role at the heart of the music industry ensures that the popularity of music translates into earnings for our members – so that they can continue to create the music that enriches all our lives.
‘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.’
PRS for Music is celebrating its centenary year throughout 2014. Find out more
In its financial results published today, the collecting society reported that international income broke the £200m barrier for the first time, rising 11.7 percent to £201.1m, up from £180.1m in 2012.
This was fuelled by popularity of British songwriters such as Mumford & Sons, Arctic Monkeys and Ellie Goulding.
North America delivered strong growth (10.7 percent) due to the growing cable TV market and internet streaming services.
Elsewhere, Australia saw strong growth (18 percent), thanks to improved deals with local television. And, despite an ongoing challenging climate in Europe, revenue rose by 15 percent across the region.
PRS for Music reported that online revenues continued their upward trajectory to reach £61.2m in 2013, an increase of 18.3 percent on 2012.
New licences and key licence renewals with the likes of Deezer and YouTube helped the sector to grow.
TV and radio revenues continued to provide significant income to PRS for Music songwriters and composers during 2013.
New licensing deals for services such as BT Sport, renewal of key licences such as Sky and strong sales for TV productions using PRS for Music repertoire saw revenues rise by 4.8 percent last year to £160.4m, up from £153m in 2012.
In 2013, the challenging retail landscape and the closure of HMV branches contributed to a 21 percent decline in the recorded media market. But, despite this fall, the recorded media market still provided £80.7m in income for membera.
Robert Ashcroft, chief executive of PRS for Music, said: ‘As one of only three net exporters of music, these financial results underline the strength of our repertoire.
‘By securing a series of new licensing deals at home, online and abroad, we’re successfully growing the market for our members.
‘PRS for Music’s vital role at the heart of the music industry ensures that the popularity of music translates into earnings for our members – so that they can continue to create the music that enriches all our lives.
‘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.’
PRS for Music is celebrating its centenary year throughout 2014. Find out more
