The MCPS-PRS Alliance has released figures for the 2008 year-to-date collection of revenue that show a 9% decline in revenue from physical products. It also predicts that physical product will be only the fourth highest revenue stream by the end of 2008, projecting that revenue will be down from £152 million ($248.48 million) last year to £131 million ($214.1 million) for 2008.

However, the U.K. collecting society says songwriters, composers and publishers have benefited from growth in other revenue streams. Achieving the highest increase was online revenue, which was up 20% on the same period last year; the combined total of broadcast and online grew by 6% to total £123 million ($198.9 million). The rise was partly due to increased transactions to members in revenues collected from iTunes and YouTube.

The international sector posted a 13% rise to £94 million ($152 million), which MCPS-PRS says is largely due to the increased activity of smaller collection societies. According to the society, the United States heads the list of territories using U.K.-created music.

Following high profile campaigns targeted at small businesses, public performance revenue has increased by 10% to £110 million ($178 million). The largest area of growth was industrial premises (an increase of 43%), followed by hairdressers (up 25%).

Revenue generated from physical product -- including CDs and DVDs -- fell by 9 percent. The MCPS-PRS says this is not as big a decline as the CD market, adding that it has generated additional revenue from sales of music products including USB storage devices.

Overall, the MCPS-PRS increased its collection revenue in the year-to-date by 4%, equating to £435 million ($703.9 million).

Projected revenues for 2008 will increase from £562 million ($908.9 million) to £582 million ($941.3 million).

PRS has also released figures on royalty distribution in October 2008. In total, £90 million ($145.6 million) was paid to members in 35 million transactions. There were 12 million performances and over 500,000 individual songs and compositions counted.

The MCPS-PRS Alliance -- a combined entity of the Mechanical-Copyright Protection Society (MCPS) and the Performing Right Society (PRS) -- has 60,000 members.