MCPS-PRS boasts of record year

15:27 | Thursday May 22, 2008

In addition, 2007 marked the first time that income from broadcasting and online out-performed that from physical product, as record sales continued to decline.

Revenue from broadcasters and online service providers rose to £155.5m in 2007, compared to £144.4m in 2006, while revenue from physical product fell 11% to £151.8m

Public performance revenue climbed 10% to £133.6m, as did revenue from the use of music overseas, to £121.2m.

In total, the Alliance collected £562.1m in royalties over 2007, up 3% from £546.8m 2006

MCPS-PRS chief executive Steve Porter says, “‘Much is written about the state of the music industry, but these results show a healthy story about the increased use of music in almost all areas of our business.

“The downturn of 11.1% in physical product was more than compensated by innovation and growth in licensing in other areas of the business.

“Further overall growth is expected for 2008 which is fantastic news for the creators of music everywhere and helps fuel the long-term future of great music for all.”