Insights PRS for Music reports record figures for 2015 with continued revenue growth across all streams.

PRS for Music has announced its 2015 financial results, revealing a record high royalty income of £537.4 million.  This figure represents an increase of 7% on 2014 when measured on a constant currency basis, with year on year growth across all revenue streams.

The figures show that PRS for Music delivered more money to its members with an 8.4% increase in distributions, equating to an extra £35.6 million compared to 2014.  Key drivers of this success include continued growth in the online market, the success of PRS member’s repertoire in overseas markets and efficiency improvements associated with the processing of online royalties.

Revenue grew across all streams:

  • online revenues reached £42.4 million, representing an increase of 12.8% over 2014. This was driven by market growth and improved licensing;
  • international revenues totalled £195.6 million, an increase of 10.4% on a constant currency basis, showing the value of investing in better tracking of the use of members’ rights overseas;
  • broadcast revenues were £124.2 million, representing an increase of 4.1%, in part due to growth in advertising on commercial radio stations; and
  • public performance royalties grew to £175.2 million, representing an increase of 4.1%, reflecting PRS’ strategy of communicating the value of music to businesses.

The 2015 PRS financial results will be presented at the Annual General Meeting at the British Library Conference Centre on 26 May 2016.  To read PRS for Music’s press release in full, click here.