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Live music continues to outperform recorded 

13 May 2010

Live survives the credit crunch, revenues up 4 percent in 2009

PRS for Music enables Songkick and Songwriters to work together to build upon the success of live music

In an exclusive key note presentation to the Great Escape Conference in Brighton today, PRS for Music Chief Economist Will Page presents the facts behind the continued success of live music in 2009.

Last year PRS for Music reported that the revenues from live music overtook that of recorded in the UK for the first time in modern history back in 2008. What’s often been termed the ‘changing of the guard’ reflects a dramatic transition, with live revenues being less than half that of recorded as recently as 2004.

The numbers behind the 2009 success story illustrate inflation beating growth of four percent, with consumer spending on live music reaching £1.45bn, up from 1.39bn in 2008. Breaking the numbers down, primary tickets were up 3.4%, whereas Tixdaq data shows that the revenues from the secondary market rocketed 15%. With the BPI recently reporting a resilient trading year for recorded music, with retail spending flat at £1.35bn, the continued growth of live music is even more intriguing.

Will Page, Chief Economist PRS for Music said: "The UK live music industry continues to exceed expectations, especially during an economic downturn. In a week when it was shown that recorded music revenues may be starting to turn a corner, it‟s important to "follow the money" and appreciate the consumers insatiable appetite for live music, with more bands and more tickets than ever before. It‟s fascinating to consider that events based industries such as live music have succeeded in growing their overall pie, whilst so much of the digital media debate is about cannibalisation."

PRS for Music have also announced plans to collaborate with www.songkick.com to capitalise on the growth in the live industry. Songkick enables fans to track their favourite bands to get personalised alerts when they go on tour. Since launching in 2008, Songkick has grown to help over one million fans discover and find tickets to great concerts every month. Fans can also document their gig experiences by uploading set lists through the site. It is hoped that this data can be used by PRS for Music to supplement current data collection methods with the view to enhancing the quality and depth of set lists thereby helping continue the drive for increased accuracy and completeness in royalty payments.

Will Page added: "Songkick is one of the leading innovators in the live music space; connecting more fans with the music they love thus getting more people to more gigs. By collaborating with this technology company we can work together to identify ways to continue improving our service to our songwriters, composers and publishers. SongKick's breadth of data will help us improve how we match what is from the smallest unsigned band right through to those hitting the UK‟s stadiums."

In relation to 2010 the performance of the live sector could be impacted by the World Cup and fewer large stadium tours.

About PRS for Music

PRS for Music represents the rights of over 111,000 songwriters, composers and music publishers in the UK. As a membership organisation it ensures creators are paid whenever their music is played, performed or reproduced, championing the importance of copyright to protect and support the UK music industry. The UK has a proud tradition of creating wonderful music that is enjoyed the world over and PRS for Music has been supporting the creators of that music since 1914.

PRS for Music provides business and community groups with easy access to over 10m songs through its music licences. In an industry worth over £3.8bn PRS for Music is uniquely placed to be a voice for music and music creators. Collecting £664.3m in 2014, PRS for Music is one of the world’s most efficient combined rights organisations. With over 100 representation agreements in place globally, PRS for Music's network represents over two million music creators.

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Emma Anderson
Communications Manager, Media Relations

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