An upbeat U.K. collecting society PRS for Music is attributing the 3.2% increase in the amount of royalties collected in 2011 to growth in income from legitimate digital-music services and the continued popularity of U.K. repertoire overseas.
PRS reported a £19.6 million (about $31.4 million) increase in royalties to £630.8 million ($1 billion) in the 2011 calendar year compared with 2010. This includes a 45.3% jump in royalties from legal digital-music services like Spotify, iTunes and Amazon to £38.5 million ($61.6 million) during the same period.
Additionally, income generated from the use of U.K. repertoire abroad grew more than 10% to £187.7 million ($300.5 million). International royalties represented the biggest individual income source, followed by broadcast (£149 million/$238.5 million). International income represented 30% of the total royalties.
Royalties from the use of U.K. music in foreign markets have jumped 275% since t2000. "The continuing popularity of our music in other countries demonstrate the global success of the U.K. music industry," said CEO Robert Ashcroft in a statement.
U.K. music festivals and stadium tours also contributed another £22.5 million ($36 million) to the revenues, despite more than 30 festivals, such as Vintage at Goodwood, Devon Rox and First Days of Freedom being cancelled in 2011.
Vintage at Goodwood has been revived as two separate events this year with Vintage taking place July 13-15 and Goodwood during Sept. 14-16.
Slump in CD and DVD sales continued to hurt, falling 13% to £101.6 million ($162.7 million).