Big hits from the likes of Adele and Calvin Harris helped British artists earn £188m in overseas royalties last year.
Posted on Oct 24, 2012 01:13 pm
The British invasion was a term that referred to the influx of UK bands finding popularity in the United States during the 1960s. But, as new statistics from PRS for Music show, the term might as easily be applied in today's musical climate. The popularity of British music aboard has seen artists' royalties double in the last year.
The figures from PRS for Music, which collects royalties from 150 countries, have shown that UK songwriters and composers earned £187.7 million globally, which is up 10 per cent from 2010. Royalties are collected each time a song is played, and that figure has doubled from £88 million in the last decade.
The boom has been attributed to mega selling singles by the likes of Adele. Stateside artists such as Rihanna and Nicki Minaj who have been using British songwriters like Calvin Harris and Fraser T Smith have also contributed to the boom.
But the successes don't stop at hit singles. Live music incomes have also soared. While they equaled £2.2 million ten years ago, the figures are up to £21 million in 2012, with sold out concerts from the likes of The Rolling Stones, Muse and The Stone Roses being examples of success.
The increased revenue for British songwriters has also been because of the popularisation of reality television shows in the past decade, offering writers a new revenue stream. The use of music on talent shows such as "X Factor" and "American Idol" and the increased popularity of pop music based programming like "Glee" has seen income from TV raise to £60 million, up from £29 million in 2009.
The global revenues for PRS members overall went up to £630.8m last year, which is up from £611m in 2010.