U.K. collecting society PRS for Music has issued unaudited results for the six months to June 30, 2009, which show revenues down 3% to £282.1 million ($463.7 million) from £289.9 million ($476.5 million) in the first half of 2008.

In a statement, the collecting society for songwriters, composers and publishers described it as a "strong performance by the organization, considering the difficult operating environment generated by the recession."

PRS for Music said it has delivered a distribution of £199 million ($327.1 million) to date to its members this year, an increase of 8.2% compared to the first half of 2008's total of £181 million ($297.5 million).

"The economic outlook for the second half of the year remains challenging," said Jeremy Fabinyi, acting CEO at PRS for Music, in a statement. "However, we will continue to work hard to ensure a fair deal for our 60,000 songwriter, composer and music publisher members by delivering maximum revenue at minimum cost."

PRS for Music said revenue from broadcast and online totaled £77 million ($126.6 million) in the first half of 2009, a fall of 6% on last year's first half. There was also a 6% decline in recorded media revenue to £73.9 million ($121.4 million) compared to the same period in 2008. International revenue increased 2% to £59.7 million ($98.1 million) and public performance income was up 1% to £71.5 million ($117.5 million).

The collecting society said it expects broadcast and online revenues to make up ground in 2009 with the phasing of revenues, although it is still likely to be down year-on-year as the 2008 result included significant 'catch up' revenue under new licensing agreements.

Recorded media held up better than predicted this year, PRS for Music said, but a 13% year-on-year decline is anticipated for 2009.