PRS for Music announces record £699.4m royalties payout, with 20% revenue drop
PRS for Music announces record £699.4m royalties payout, with 20% revenue drop 26th April 2021 Songwriters and composers received a record £699.4 million in royalties in 2020 from PRS for Music, according to the UK-based organisation’s latest financial results. The payout represents a 2% increase from the previous year. However, the effects of the pandemic are clearly evident, with a 19.7% drop in overall royalties collected in 2020, according to the new figures. This decline is a result of the significant drop in music being commissioned and played in the UK and worldwide. Unsurprisingl...