Robust overseas demand for the likes of Ed Sheeran, Roger Waters and the Rolling Stones and the rise of streaming services continue to boost royalties for Britain’s music industry.
International revenues at PRS for Music, the British-based royalty collector for songwriters and publishers, rose by 9.1 per cent to £280.6 million last year. Music festivals such as British Summer Time in Hyde Park, London, and tours by Florence and the Machine and Paul McCartney helped to boost live revenues by 13 per cent to £38.9 million.
PRS for Music, which represents 140,000 songwriters, composers and music publishers, processed 11.2 trillion “performances”, including streams, downloads, broadcasts and music played in business premises, last year. Its total royalty revenues rose 4.4 per cent to £746 million over