British collecting society PRS for Music is the latest PRO to publish impressive numbers for 2017. Its revenues were up by 12.7% year-on-year to £717m (just over $1bn) while its payouts to members grew by 14.7% to £605.1m ($848.3m) to set a new record.
The figures included a 5.2% rise in international revenue generated by PRS members’ music played abroad to £261.4m; an 8.5% increase in broadcast revenues to £134.6m; and 8.1% growth in public performance income to £198.1m.
As for online platforms, they saw the biggest growth for PRS: up 52.7% year-on-year to £122.9m, including £42.2m of streaming income, which was up 68.6%. The society processed 6.6 trillion performances in streams, downloads, broadcasts and concerts in 2017, up 53% year-on-year.
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