Our third edition of Adding up the UK Music Industry report represents an unusual first, with UK music industry revenues falling by 4.8 percent to £3.8bn in 2010.
In putting together this report, we made significant methodological advances, the most important of which is within the UK music publishing business, which we now value at almost £250m - a significant upward revision.
The value of UK music abroad remains a core focus of the 2010 report, especially as it is arguably one of the few export industries in which the UK truly excels. When exporting its musical repertoire overseas, PRS for Music outperforms US collecting societies by a factor of three.
These observations are elaborated upon in our concluding remarks and an article by former Andy Parfaitt, Controller of BBC Radio 1, Radio 1Xtra, Asian Network and Popular Music.