PRS for Music financial results 2008

					Date: 19 January 2009


             PRS for Music financial results 2008
           Record revenues for UK songwriters and composers

PRS for Music (formerly The MCPS-PRS Alliance), which collects and pays music royalties,
today announces record results for 2008 worth over £600m in royalties to UK songwriters,
composers and music publishers.

   •   Overall growth of 8% on 2007 (PRS for Music has consistently grown revenue year-
       on-year),
   •   Licensing more effectively across the board. Over 350,000 UK businesses are now
       licensed to use music,
   •   Double digit growth in 3 of our 4 business areas,
   •   Effectively licensing new online services, therefore monetising the digital space.

Chief Executive, Steve Porter, said, "For the first time our revenue has topped £600
million which is a fantastic achievement. It's a great boost for the UK songwriters,
composers & publishers who we represent and a strong start for our new identity PRS for
Music."

2008 Results

What PRS for Music earned for its members for the use of their music in 2008. PRS for
Music is uniquely placed in that it has data for the whole industry and not just physical
sales (figures to be audited):



              Business Area*           2008 (£m)         2007 (£m)     % Change

          Broadcast & online                    179.7         156.5           15%
          Performance sales                     147.0         133.6           10%
          International                         139.6         121.2           15%

          Sub Total performing
          revenue                              466.3          411.3          13%

          Physical recorded
          product                               140.6         150.8           -7%

          Total Revenue                        606.9          562.1            8%
          *See below for explanation of business areas
An explanation of business areas:
   1. Broadcasting & Online – covering all radio, TV & internet services
   2. Public Performance Sales – including clubs, music venues, businesses &
      commercial premises
   3. International – when British music is played and used overseas
   4. Physical Recorded Product – such as CDs & DVDs


Broadcast & Online

Over £179m collected with 15% growth compared to 2007.
In 2008 PRS for Music agreed new licensing deals with the likes of EMusic, Nokia Comes
with Music, Amazon and renewed deals with Disney, UKTV, ITV, Turner Broadcasting,
Setanta and many more. PRS for Music is the first collection society in Europe to license
YouTube. Radio revenues were flat as commercial advertising came under pressure.

Public Performance Sales

£140m collected with 10% growth compared to 2007.
PRS for Music saw growth in Public performance revenues across all areas due to
increased effectiveness in licensing, deeper market penetration and a strong live music
market throughout 2008.

International

Over £139m collected with 15% growth compared to 2007.
PRS for Music now collects royalties from over 170 countries. The top overseas territories
for UK-created music in 2008 were:
          o USA
          o Germany
          o France
          o Netherlands
          o Ireland
          o Japan
          o Italy,

The biggest growth in 2008 came from Eastern Europe and Latin American markets. PRS
for Music is also focussed on BRIC (Brazil, Russia, India, and China) countries as future
areas of growth.

Physical Recorded Product

£140m collected, a decrease of 7% compared to 2007
The continue decline in CD sales is reflected in PRS for Music’s collection revenues but our
overall revenues from physical product has decreased less than the overall market. DVD
sales – including titles such as the BBC’s Planet Earth, which contain music content – have
performed well.
For more information, get in touch:

Michelangelo Bendandi, Brunswick Group:
mbendandi@brunswickgroup.com
02074045959 / 07834 502349


Catherine George, Media Relations Manager: catherine.george@prsformusic.com
02073064229 / 07535 700965



The bit about us:
PRS for Music exists to help businesses and community users get access to some of the
world’s best loved songs, while making sure that songwriters, composers and publishers
are rightfully rewarded whenever their musical works are played, performed or
reproduced. PRS for Music provides the permissions needed to use music for any product
or space, from a TV programme or YouTube video, to the workplace radio and every
possibility in between. Through effective, fair and transparent licensing we ensure that
creators can keep on creating by delivering vital income to all our 60,000 membership.
PRS for Music is proud to keep one of the UK’s most vibrant creative industries working.

Website: www.prsformusic.com

				
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