Rise in royalty payments from digital services and international success help offset plunge in revenue from CD sales British tunesmiths cashed in on a surge in the use of digital services such as iTunes and Spotify in 2011, and the huge international popularity of artists such as Adele, as royalty payments to songwriters grew 3.2% year on year to £635.3m. PRS for Music, the organisation that represents 75,000 songwriters, composers and music publishers in the UK, said that a surge in growth in revenue from digital services and international markets helped more than offset a double-digit fall in royalties collected from the sale of CDs.
With toady's launch of a new service, TuneCore hopes to help revolutionize songwriter royalty collection as it did digital music distribution. The company's Songwriter Publishing Administration Service helps navigate the confusing w... Read Post
For the first half of 2011, Universal Music Group's revenue decreases 1.9% to $2.64 billion USD a 1.9% decrease compared to the first half of 2010 (-2.0% at constant currency) Digital music sales grew 13.5%, but failed to offset fal... Read Post
BPI says music industry revenue fell just 3.4% last year to £795m as digital income increased by nearly a quarter to £282m UK music industry revenue fell just 3.4% last year to £795m as the steady decline in the popularity of CDs wa... Read Post