Last year, we collected a record £964m, a year-on-year increase of 22.9%. These landmark results indicate not only a dramatic recovery following the global COVID-19 pandemic, but an increase of £154m on the previous high of £810m achieved in 2019.
We paid out an unprecedented £836.2m of royalties, a 23.5% increase on 2021. The quarterly distribution in October 2022 alone was in excess of £211m, the largest single distribution in the organisation’s 108-year history.
These ground-breaking results were delivered at a historically low cost-to-income ratio of 9.3%, meeting the target of achieving a cost-to-income ratio below 10% four years earlier than our five-year plan.
The big story of 2022 was the strength of the rebound in live music.
Over 128,000 live events were reported across the year in the UK, including major tours from the likes of Dua Lipa, Ed Sheeran, Little Mix, N-Dubz, The Cure and The Rolling Stones, among others.
PRS writer members featured on many of the most streamed hits of 2022 on the Official UK Charts , including Go by Spotify Global RADAR artist and BRIT Award nominee Cat Burns and synth-pop track As it Was by the effervescent Harry Styles.
PRS represents the rights of more than 165,000 talented songwriters, composers, and music publishers around the globe and welcomed almost 7,000 new writer, composer and publisher members in 2022.
Photos: Balming Tiger; Nova Twins; Crawlers
Photographer: Thomas Jackson - TyneSight Photographic