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Licensed digital services get royalties get an upbeat!

Source: Internet
Licensed digital services get royalties get an upbeat!
Source: Internet

Royalty fees for British songwriters have soared up, thanks to the increasing popularity of digital services like iTunes and Spotify as well as the growing international outreach of UK musicians. In 2011 the collection of royalties increased by 3.2% to £630.8 million, according to PRSforMusic, the representative organisation for songwriters, composers and music publishers. A report by the industry organisation in April this year observed that royalties from licensed digital services rose by 45.3% in 2011, summing up to £38.5 million. Also, the royalties received from the overseas consumption of UK music witnessed a 10.6% leap to £187.7 million.

The persistent appreciation of British music in other countries reflects the global success of the Britain’s music industry, said Robert Ashcroft, chief executive of PRS for Music. Artistes last year received additional royalties because of continued efforts put at promoting copyright in the local and international platform and licensing digital services, he said.

The licensed digital market has channeled in a substantial income for the members of PRS for Music, said the CEO. It has made up for the revenues lost in the CD market over the years even though piracy continues to be the ususal dilemma. As the patterns of music consumption change, PRS for Music is striving to ensure sustainable income for the artistes in the industry. The success of the British boyband One Direction, which has been the first UK pop group to top the US album chart at its debut and Adele’s ‘Someone Like You’ which won six Grammy Awards this year, are indicators that UK music industry has more in the box to deliver!

 

 

The story was first published in INTELLECT Issue no.2, dated July 2012. 

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