Music royalties rocket to record £810 MILLION

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Music royalties rocket to record £810m but industry warns pandemic will hammer artists’ income in 2020 and 2021

By Daily Mail City & Finance Reporter

Published: | Updated:

Musicians and songwriters pocketed a record £810million from royalties payments last year.

But the industry has warned the cancellation of live performances because of the coronavirus pandemic will hammer artists’ income in 2020 and 2021. 

The total royalties paid rose 8.7 per cent on 2019, according to PRS for Music, the organisation that ensures UK songwriters, composers and publishers get paid when their music is played or performed anywhere in the world. 

Music industry revenues were boosted by tours from the Spice Girls, Ed Sheeran and Sir Elton John’s (pictured) Farewell concerts

While the amount earned from music streaming services such as Spotify rose 23 per cent to £179million, around a quarter, or £222million, came from public performances. 

Revenues were boosted by tours from the Spice Girls, Ed Sheeran and Sir Elton John’s Farewell concerts.

Social distancing measures have forced staple festivals such as Glastonbury and Reading to cancel this summer’s events, while many artists have had to scrap planned tours.

PRS for Music chief executive Andrea Martin told the BBC: ‘We know very well that we’re in unprecedented, unpredictable times.’

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