By Leo Barraclough Senior International Correspondent PRS for Music, the organization that represents the rights of British songwriters, composers and music publishers, collected a record £811 million ($990 million) for its members last year, an 8.7% rise.
However, CEO Andrea Martin said it would “inevitably see a decline” in royalties this and next year due to the coronavirus pandemic.
Net costs for collecting royalties reduced 6.7% year-on-year to £87.5 million ($107 million), and after charitable donations of £3.2 million ($3.9 million), resulted in revenue to members of £721 million ($882 million).
A record £686 million ($838 million) was paid, an annual increase of 13.7%. International royalty income continues to be the largest
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