Crisis in the music industry

Royalties in the UK are down

Crisis discográfica The progressive decline in the sales of physical media is starting to reflect in the revenues from royalties for labels, publishers and artists. A spokesperson of PRS For Music, an organisation representing 75,000 composers, musicians and music publishers, have rung the alarm, blaming digital piracy and the closing of record stores for the 1% fall in royalties generated in 2010. The amount gained by way of copyright and other royalties was down by 7 million pounds to 611.2 million. Only 117.2 million correspond to royalties from the sales of recorded music, a category of income that registered an 8.8% fall last year.

The director of the PRS Foundation, Robert Ashcroft, which represents artists likeAdele and Florence and the Machine, commented: “The loss of high street outlets, the slowdown in physical music sales as well as the challenges capturing the full value of music usage online has meant that for the first time we have seen royalties collected dip. Previously, any reduction from falling physical sales had been offset by our strong performance in music licensing both in the UK and internationally. In 2010 slower growth at home and abroad failed to fully mitigate the decline.”

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