PRS For Music Reports Uptick In Collections For 2011

LONDON (CelebrityAccess MediaWire) — UK copyright collection service PRS for Music reported a 3.2% rise in the collection of royalties for 2011 to £630.8m over the £611.2m collected in 2010.

The increase was based in large part on the continued strength of the UK music scene, and the continued growth of digital music services such as Spotify and iTunes.

According to PRS for Music, 2011 saw a rise of 45.3% (to £38.5m) from digital music, which now accounts for 6% of total collections and overseas collections were up by 10.6% (to £187.7m). Live Music collections were up as well, growing by 8.2% to £22.5m in 2011.

Meanwhile, collections from physical product, including CDs and DVDs continued their slide as the market continues to transition to digital, dropping by 13.3% to £101.6m in 2011.

"The continuing popularity of our music in other countries demonstrates the global success of the UK music industry. Our efforts to support copyright at home and abroad, combined with the energy we continue to put into the licensing of new digital services enabled us to pay additional royalties to our members last year," said Robert Ashcroft, CEO of PRS for Music. – CelebrityAccess Staff Writers

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