Live music income has grown from £2.2m to £21m since 2002
The popularity of British music abroad has seen artists’ royalties double in the last year.
According to new figures from PRS for Music (via BBC), which collects royalties from 150 countries, UK songwriters and composers earned £187.7 million globally, up 10 per cent from 2010. Royalities are collected each time a song is played, and that figure has doubled from £88 million in the last decade.
Big hits from the likes of Adele, as well as artists such as Rihanna and Nicki Minaj hiring Brtish songwriters such as Calvin Harris and Fraser T Smith have helped the boom.
Live music incomes have also soared from £2.2 million in 2002 to £21 million, due to sell-out concerts for acts such as The Rolling Stones, The Stone Roses and Muse.
Income from TV has also increased from £29m in 2002 to £60m last year, thanks to British music being used on talent shows like X Factor and American Idol.
All in all the overall global revenues for its members added up to £630.8m last year, up from £611m in 2010.