Christmas has come early for UK artists, according to PRS, anyway. The Performing Rights Society has just announced its largest ever royalty payout of £274.9 million to rights holders worldwide.
This marks a 4% increase on last year and is surely a reason to be cheerful amid the gloom over possible changes in UK copyright law and the encroachment of AI into music.
In a statement, the President of the PRS Members Council, Crispin Hunt (yes, him - the ex-singer with Britpop band The Longpigs) said: “Record royalty distributions mean more than just big numbers – they represent rent paid, instruments bought, studio time covered and careers sustained for thousands of music creators.”
“Hundreds of songwriters are receiving royalties for the first time this year. That first payment matters – I’m proud to be part of a member-led society dedicated to making sure hard-working and emerging songwriters and composers are earning whenever their music is played.”
Of that headline figure of £274 million, international royalties count for a hefty wedge – some £98 million. Meanwhile, streaming and broadcast royalties appear to be holding up well: £13.5 million came from radio play, £12.8 million from video on demand platforms such as Netflix and Apple+ and a further £18.1 million came from usage in video games.
There is also £8.9 million that came from songs performed live in concert. Indeed in October just gone PRS launched its Livelihood campaign, which is designed to raise awareness about live performance royalties and help artists betterunderstand how these payments can sustain their careers.
PRS members can expect one final payment before the year is out. Overall, the society estimates that over 51,000 members will receive something, with more than 400 songwriters and composers getting royalties for the first time.
