PRS Says They Brought in $1 Billion in Revenue Last Year…

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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

Image by TaxRebate.org.uk, licensed under Creative Commons Attribution 2.0 Generic (CC by 2.0).

2 Responses

  1. Wooly

    An increase in revenue? Well, those streaming services and P2P pirates sure are having an effect.

    Reply
  2. DavidB

    So,allegedly, streaming service royalties were higher than download royalties.

    Reading claims like this one needs one’s rodent-odor-detector turned up to 11.

    The claim can only be true if:

    a) streaming revenue in general was higher than download revenue

    or

    b) the share of total revenue going to songwriters/publishers was higher for streaming than for downloads

    or

    c) both.

    From what I can glean of info on the breakdown of revenue generally, (a) (and therefore also (c) ) is false. Streaming revenue has increased, while download revenue has fallen, but downloads are still substantially ahead, either globally or in the UK (and NB although the PRS is a UK body, its data are for the global income of its members).

    As to (b), it would be very interesting if true, but it would go against everything else that has been claimed about the breakdown of streaming revenue.

    So I detect a whiff of rat. I can’t quite pin down the location of the rodent, but I suspect it has something to do with the coverage of what is channelled through the PRS in the different cases.

    Reply

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