Revenue generated from British music used abroad has doubled since 2002, according to recent findings.
PRS for Music, who represent 90,000 songwriters, composers and music publishers and collect royalties from 150 countries, has released new figures which show UK artists have earned £187.7million globally in 2011 – up 10.6% on 2010.
The organisation said that equates to nearly double the royalties collected in 2002, which they say is down to an increase in popularity of British music abroad and “improved licencing”.
Royalty money is generated any time a song is played – whether it being performed live or on TV, Radio and Online – and is then collected by PRS for Music who distribute it to the artists and songwriters.
Speaking about the UK success abroad, Karen Buse, director of International at PRS for Music said: “These are very strong trends which underpin the success of our songwriters and the UK music industry on the global stage.
“While it has been a particularly strong year for music distribution via platforms such as the 2012 London Olympics, this much is clear: Music is a great British success story. It contributes significantly to our economy and promotes our endemic creativity and culture.”
Meanwhile, the success of stadium acts, such as The Rolling Stones, U2 and Muse, means live music income saw a substantial growth in the last decade, rising from £2.2million to £21million since 2002.