Music royalties take a dip
News: 31st March 2011 by Louise Dodgson under Music Publishing
Whilst the recording industry has struggled, the music publishing arm of the industry has mostly continued unaffected...until now. PRS For Music have reported a drop in the royalties they collect on behalf of their songwriter and composer members, following the slump in physical and digital sales seen in 2010. Although only falling by 1%, this actually calculates as a loss of £7m, which has been put down to the slow down in music sales, and the closure of several music stores including many branches of the HMV chain.
Related Links
http://www.guardian.co.uk/business/2011/mar/28/music-royalties-fall-for-first-time
http://www.nme.com/news/various-artists/55738
Tags
prs for music, songwriters, music royalties, music sales, royalty collection, collection society
