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PRS Record Payout

PRS Record Payout For the first time, income from broadcasting and online out-performed that of recorded physical product. Online royalties, although still a small proportion of the overall whole (at £10m), grew significantly by 54% year-on-year, largely due to the growth in the legal online music market led by iTunes.

Public performance income – the licensing of premises playing music – was driven by an increase in live pop concerts (delivering revenue up 20%) and improved licensing activity amongst leisure and industrial premises (up 13% and 20% respectively).

Top overseas territories for UK music in 2007 were the USA, Germany and France. The recognised downturn in worldwide CD sales (revenues from the CD market were down 13%) was mitigated in part in the UK by improvements in licensing other new formats, including pre-loaded USB sticks and musical novelties.

The cost of processing the money collected and of distributing it was pegged at just over 10% of total revenues - one of the lowest in the world – in spite of a 40% increase in the number of transactions processed (due in part to the millions of music tracks included on new licensed services such as YouTube).

Chief Executive of the Alliance, Steve Porter, said, ‘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.’

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