PRS for Music released their 2019 accounting figures, having increased their collections 8.7% over 2018, to a total of £810.8 million. PRS managed to reduce its operating costs by 6.7%, which resulted in an overall 13.7% increase in total member disbursements, reaching a net total of £686 million.
£279 million came from international royalties via foreign collection societies while digital-platform royalties grew by a whopping 24.2% to £179.1 million.
However, all eyes are on 2020’s number as COVID-19 decimated business and live performance licensing worldwide. In addition, a decrease is predicted in UK digital-platform licensing as well.