PRS for Music has reported 2014 yearly income for both PRS and the Mechanical-Copyright Protection Society.
The combined income was £664.3 million ($1 billion). This is a one percent rise from the previous year.
Revenue from public performance of music was £168.3m ($260 million), a rise of £6 million ($9.3 million).
Revenue from recorded music and clubs fell, but TV, radio, and online royalties made up for it. Online royalties were higher than physical, and streaming service royalties were higher than download royalties.
Music Week reports that PRS is considering raising their Popular Music Concerts Tariff for concerts and festivals. The industry seems to welcome the proposed raise, but event operators are worried that it could also be detrimental to small festivals and venues.
PRS will also review other tariffs in the near future.
Nina Ulloa covers breaking news, tech, and more: @nine_u
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