UK artists pull in record £87m in overseas music royalties
British artists pulled in a record-breaking £86.7m in overseas royalties last year as the UK boosted its status as a global music powerhouse.
The figure hit a record high in 2019 and is up 22 per cent on the total reached in 2018, according to new figures from licensing body PPL.
The surge was driven by a string of new global agreements by PPL, which collects money overseas where recorded music rights exist for public performance, broadcast and private copy.
Hit British artists such as Tom Walker, Rita Ora, Bastille and Jade Bird were among those cashing in on their tunes abroad.
“As music consumption increases around the world, in many different countries, PPL is well-positioned to continue getting music people paid,” said Laurence Oxenbury, director of international at PPL.
“Our international collections are now a vital source of income that supports the music ecosystem, allowing performers to keep creating and developing, and recording rights holders to support the artists that they represent.”
The amount of royalties earned from recorded music has grown rapidly in recent years, more than doubling from £36.4m in 2015.
PPL, which is one of the UK’s two main royalties agencies, covered roughly 93 per cent of the global value of the recording rights holders’ market last year.