London – The U.K. music industry experienced 4.7% overall
growth in 2009, totaling £3.9 billion ($6.2 billion) — an uptick that follows
a five-year sustained decline in recorded music sales, according to a report
from collection society PRS for Music.
Revenues from consumers, in the form of
recorded music and concert ticket sales, grew 4.8% in 2009 to £2.9 billion
Business-to-business revenues — including royalty collections
for music usage, direct licensing, advertising and sponsorship — totaled £967
million ($1.5 billion), up 4.4% from 2008.
"Overall 2009 has bucked downward
trends at home and abroad," said Will Page, chief economist at PRS for
"Strong growth in international licensing revenues, a robust live
music industry and signs of stabilisation in the recorded sector have helped
produce these impressive results. Underpinning this is a drive by the industry
to develop new sources of revenue from the online market."
(PRS for Music)