Music Royalties Hit A Record High-but The Storm Is Coming

Last year, British musicians and songwriters achieved record revenues, but the loss of live music posed a major threat to revenues in 2020.

The warning was issued by PRS for Music, which guarantees payment to 145,000 composers, composers and publishers in the UK when playing or performing music around the world.

The organization raised a record 810 million pounds last year, an increase of 8.7%.

But it said that Covid-19 will cause an “inevitable decline” in 2020 and 2021.

CEO Andrea Martin told the BBC: “Even if we have a record-breaking year, we are well aware that we are in an unprecedented and unpredictable era.”

She said, “The income from live music and public performance will not only be hit in 2020, but also in 2021, because international payments usually take time to slowly increase.”

She added: “There will be a failure.” “But how much and what percentage … Your guess is as good as mine.”

This situation will touch on smaller behaviors, many of which were already struggling before the pandemic, which is the most difficult.

Catastrophic blow
Last year, PRS handled 18.8 trillion of music “performances”, including streaming, downloading, radio and television broadcasting, and music played in bars, clubs, hairdressers and concert venues.

British songwriters contributed to the most popular songs of the year, including “Some You You Loved” by Lewis Capaldi, “Old Town Road” by Lil Nas X and “Don’t Me Me Up” by Mabel.

The royalties for live music generated 54 million pounds, an increase of 15 million pounds since 2018. Spice Girls, Sir Elton John, Ed Sheeran, and Glastonbury’s major touring after the fallow in 2018 increased their income.

But with the cancellation of the entire festival in the summer and dozens of large-scale tours delayed to 2021, this number will not be reproduced in next year’s performance.

Last week, the British Music Company revealed that the contribution of live music to the British economy is expected to drop from an estimated 1.1 billion pounds to 200 million pounds in 2020, which is a “catastrophic” blow to the industry.

At the same time, the Ivorian Composer and Composer Academy stated that each member is expected to lose £ 25,000 within six months.

Locking also means that songwriters will lose royalties charged when playing music in stores, movie theaters, bars, clubs and restaurants. In 2019, this figure is 168.2 million pounds.

However, there is some good news. Music streaming royalties increased by 22.1% to £ 155 million, while music revenue from video-on-demand services such as Amazon and Netflix increased by 47.5% to £ 17.7 million.

Early data indicates that during the lock-in period, more people have purchased streaming subscriptions, which may provide a small balance point for the loss of live music.

But many musicians point out that the income they earn from companies like Spotify, Apple Music and Amazon is not enough to maintain their careers.

Tom Gray, an independent band Gomez, recently shared a chart originally written by The Trichordist that shows the amount of streaming media an artist needs to make a living in the UK.

On YouTube, a song must be played 7,267 times to generate £ 8.72-or a minimum wage of one hour. On Spotify, the number is 3114 streams, and on Apple Music it is 1615 streams.