State Champ Radio Publishing
Page: 2
U.S. music publishing revenue rose 17% to $7.04 billion in 2024, the National Music Publishers’ Association (NMPA) revealed at its annual meeting on Wednesday (June 11). Last year, the trade organization reported total revenue at $6.2 billion, which was up 10.71% from the previous year.
The event, held at Alice Tulley Hall at New York’s Lincoln Center, is considered a state-of-the-union for U.S. music publishers, and this year, its CEO/president, David Israelite, and general counsel, Danielle Aguirre, focused their presentation on both celebrating hitmakers — like award recipients Kacey Musgraves, Rhett Akins, Gracie Abrams and Aaron Dessner — and on talking about ways to grow revenue even more.
There was also a strong focus on calling on the industry, from executives to songwriters and artists, to stand together. As Israelite said, “We should all stand behind [songwriters]…There has never been a greater need to stand up for the value of songwriters.”
Trending on Billboard
Aguirre and Israelite pointed to three key battlegrounds where remuneration can improve if the industry sticks together: general licensing (licensing for bars, restaurants, venues, etc.); social media; and interactive streaming. As Aguirre noted, 72% of publishing income is under “burdensome regulations” in the U.S. — whether by consent decree or compulsory license — but there are still ways to improve that within the current system.
Interactive Streaming
For interactive streaming, Aguirre reminded the crowd that Phonorecords V proceedings at the Copyright Royalty Board (CRB), which will determine the rate that songwriters and publishers will be paid for U.S. mechanical royalties from 2028-2032, are “fast approaching” in the next six months.
“One of the biggest challenges [for interactive streaming income] continues to come from Spotify’s mischaracterization of its music service into bundles, which forced the conversion of over 44 million subscribers into bundled platforms that those subscribers did not request,” Aguirre said. (Earlier this year, the Mechanical Licensing Collective’s lawsuit against Spotify, which claimed the company’s bundling of premium tiers and resultant cutting of payments to songwriters and publishers was unlawful, was dismissed by a judge who said the rules were “unambiguous.” However, the NMPA continues to attack the platform through various means, including sending mass takedown notices for podcasts and videos on Spotify that do not properly license music.)
Aguirre revealed that in the first year of Spotify’s new bundling change alone, publishers and writers have lost over “$230 million…and these losses will continue if we can’t reverse or correct Spotify actions,” she said. “In fact, if we don’t stop them, we are projected to lose over $3.1 billion through the next CRB period [which ends in 2032].”
Perhaps taking a cue from Spotify, Amazon has also bundled its music service with other offerings, allowing it to cut royalty rates for songwriters and publishers in the U.S. — another change Aguirre hit on in her remarks. “In just the last three months, we’ve seen a 40% decrease in music revenue from Amazon, which has hit the PROs particularly hard,” she said. Notably, the NMPA had a much more hopeful outlook on the Amazon bundle when it was announced; at the time, the organization released a statement saying it was “optimistic” about Amazon’s new offering and had “engaged” with the company in a “respectful and productive way” to find a compensation model for publishers that “will not decrease revenue for songwriters.”
Social Media
Social media is one of the rare areas of publishing where publishers and songwriters can negotiate without any government interference — and the NMPA is hopeful about capitalizing on that. To date, the income stream is still small: Aguirre reported that social sites like TikTok, Instagram, X and others only make up 2% of income for publishers in the U.S.
However, Israelite believes songwriters have the power to say no to this level of compensation and force the companies to treat them better.
“It’s important for songwriters to understand they already have the power to strike,” he said, despite the fact that songwriters do not qualify for a traditional union. “They do so when the people they entrust to license their songs, the music publishers and collecting societies, say no. There are key industries, such as social media, user-generated content, artificial intelligence training and lyric rights, where songwriters have the power to say no. But too often, when a music publisher or a PRO stands up to licensees who don’t want to pay fair rates, we run into a unique problem that plagues the songwriting industry: Songwriters don’t stick together. This is a tough conversation.”
Case in point: Just last year, Universal Music Group removed its catalog from TikTok in an effort to fight for its “fair value.” However, as Billboard reported at the time, a number of artists, including Ariana Grande, Beyonce and Olivia Rodrigo, found ways around the ban to continue using the platform for marketing purposes.
General Licensing
The final area of focus the NMPA addressed at the meeting was general licensing, or the performance license required to play music in public spaces like restaurants, bars, venues and clubs. While Aguirre noted that this only made up for 5% of total revenue last year, she said that “there is a substantial opportunity for growth.”
“One concern is the lack of licensing from many of these venues. For the first time, we have insight into just how much money is being lost to unlicensed mid-sized venues,” said Aguirre. In a recent study, she said the NMPA found that 80% of “venues that have 50 or fewer locations but are large enough to require performance licenses…misuse consumer streaming services to provide that music.” Others, she added, are using business-to-business (B2B) music services that “are not obtaining all of the necessary rights for the services that they are offering. Some provide features like offline listening, interactive music experiences and on-demand streaming without securing appropriate mechanical licenses.”
To remedy this issue, the NMPA announced it’s sending six cease and desist letters to B2B music services that are allegedly not properly paying for music. The organization did not specify the names of these B2B vendors.
The NMPA’s attack on B2B music suppliers comes on the heels of the U.S. Copyright Office’s Notice of Inquiry regarding U.S. PROs, wrapping up its first comment period. While bars, restaurants, clubs and other public spaces license music from PROs to use in their venues, some recently complained about the PROs’ alleged “lack of transparency” and the fact that there’s been a so-called “proliferation” of new PROs in the market, complicating (and perhaps increasing the cost of) the licensing process. While most countries have just one, maybe two, PRO options for writers and publishers to join, the U.S. now has six: ASCAP, BMI, SESAC, GMR, AllTrack and PMR.
Overall Breakdown of Publishing Income Streams
As reported by the NMPA, the breakdown of income streams for U.S. publishers and songwriters is as follows:
Streaming services: 45%
Traditional sync: 8%
Radio: 8%
TV/Cable: 6%
Mass sync: 6%
General Licensing/Live: 5%
Social Media: 2%
Label: 2%
Sheet Music: 1%
Lyrics: 1%
Songwriters
It wasn’t all just business talk — this year’s meeting also celebrated songwriters. The honorees included Musgraves, who received the Songwriter Icon Award accompanied by a tribute from her friend, Leon Bridges, who performed the Musgraves-written song “Lonely Millionaire.” Musgraves also took the stage to perform “Architect” from her latest album, Deeper Well.
Akins received the Non-Performing Songwriter award this year, and the ceremony featured a special tribute from his son, country artist Thomas Rhett, who performed “I Lived It” (released by Blake Shelton) and “What’s Your Country Song,” which he wrote with his father.
Lastly, the NMPA showcased the winners of the Billboard Songwriter Awards. Those honors were originally set to be handed out at a separate NMPA/Billboard Grammy week event that was canceled due to the Los Angeles wildfires and rescheduled for the NMPA’s annual meeting. Abrams and Dessner, who received Breakthrough Songwriter of the Year and the Triple Threat Award, respectively, took the stage on Wednesday to perform “I Love You, I’m Sorry,” which they wrote together.
Fabio Gutiérrez — father of rising star Xavi and co-writer of several of his biggest hits — has signed a global administration deal with Warner Chappell Music, the company announced Wednesday (June 11).
WCM will administer future output and select tracks in Xavi’s repertoire, including “La Diabla,” “Corazón de Piedra,” “Sin Pagar Renta” and “En Privado” with Manuel Turizo — all co-written by Gutiérrez.
“It means a lot, it’s a dream for any songwriter,” Gutiérrez says over Zoom about his first-ever admin deal. Father to música mexicana star Xavi and emerging singer-songwriter Fabio Capri, Gutiérrez began writing as a teen but never fully developed his own career as an artist.
Trending on Billboard
“I became a father at 16 and I had to work for the family so I went into construction and had since worked as an electrician. I emigrated from Sonora to Phoenix and lived the whole American dream,” he says. “I didn’t make it as an artist because I didn’t have the maturity or the support, but I learned to do everything that Xavi would need when his time came.”
While being an electrician was his main source of income, Gutiérrez had always been passionate about music. As a young teen, he was part of a dance group and continued writing and producing songs on his own in his home studio. “My kids didn’t know I was doing [music] after work,” he says. But that all changed during the pandemic, when Gutiérrez decided he would teach Xavi how to write songs.
“That’s really how it all started,” he remembers with a smile on his face. “I was just being a dad, teaching him something new in life, just like you teach them how to walk, it’s been a lot of work and it’s all happened very fast.”
Signed to Interscope, Xavi — known for his style of corridos tumbados — topped the 2024 Year-End Top Latin Artist – New chart. His single “La Diabla” not only earned him his first No. 1 on a Billboard chart, but it also became the first champ of the year — crowing Hot Latin Songs for 14 consecutive weeks. Xavi’s success on the charts also made him the new artist of the year winner at the 2024 Billboard Latin Music Awards.
“Besides being my dad, he’s played a huge role in everything I do musically,” Xavi said in a statement. “He’s my partner in crime! We write together, come up with crazy ideas, and there’s this cool chemistry between us. Honestly, it feels like we can read each other’s minds. We’re connected by blood and music.”
Gutiérrez remembers that when “La Diabla” went viral, he got a call from Xavi. “He was like, ‘Hey, what are you doing?’ And I was really busy at work, carrying things around. Then he said, ‘How do you feel with everything going on with the song?’ And I remember I told him, ‘I feel normal. You?’ He answered, ‘Yeah, I feel normal too.’ I told him that’s the way it always has to be, regardless of what happens. We are human beings and we simply dedicate ourselves to doing something with a lot of love and it feels nice to write music that connects with an audience.”
“Signing Fabio Gutiérrez is incredibly special for our team,” Delia Orjuela, head of creative Mexican music/música mexicana, Warner Chappell Music. “His creative partnership with both his sons Fabio Capri and Xavi, has helped shape one of the most exciting new voices in Latin music today. Their journey is a testament to the magic that happens when family, culture, and artistry come together.”
Besides songwriting, Gutiérrez also co-manages the careers of Xavi and Fabio Capri. “Everything is possible if you work hard, no matter where you come from. I didn’t have my dad but if I had my dad, I would have achieved more things,” Gutiérrez adds. “The job of being a parent is to discover the talent of your children and do anything you can to support whatever that talent is.”
Doechii’s “Anxiety” entered its third-straight week at No. 1 on Billboard’s Radio Songs chart on Monday (June 9) after spending a total of 12 weeks on the Billboard Hot 100, where it peaked at No. 9. But the song, which samples of Gotye’s “Somebody That I Used to Know,” isn’t just a megahit for the Florida singer and rapper.
Billboard estimates that the publishers of the Belgian-Australian indie rocker Gotye and the Brazilian born jazz-pop artist Luis Bonfá — whose 1967 hit “Seville” is sampled in “Somebody” — could earn as much as $72,000 each from the success of “Anxiety.”
Trending on Billboard
“Sampling is a big business,” says Michael Poster, chair of music acquisitions and financing at law firm Michelman & Robinson, LLP. When an old hit is revived through a sample, both the masters and publishing rightsholders stand to earn a cut; the publisher becomes a co-owner of the new song; and the old song will likely see an uptick in streaming activity and synch opportunities, industry sources say.
Doechii’s “Anxiety,” Gotye’s “Somebody” and Bonfá’s “Seville” have all seen “a significant increase… in popularity and consumption” since the March release of Doechii’s hit, says Pär Almqvist, CEO of Sweden-based publishing administration company AYO.
As of Monday (June 9), “Anxiety” has generated nearly 1.2 million song consumption units in the United States, where it has racked up nearly 165 million total on-demand streams and roughly 284,000 airplay spins, according to Luminate.
Billboard estimates that those streams, spins and sales of Doechii’s “Anxiety” have generated about $1.165 million in master recording and publishing revenues combined so far this year.
It is unclear exactly how much Gotye directly stands to earn from that amount, but “Anxiety” credits three songwriters: Jaylah Ji’mya Hickmon, or Doechii; Walter André De Backer, or Gotye; and Bonfá.
DMG Clearances, which secured consent from the copyright holders of “Somebody That I Used to Know” for Doechii’s team, declined to comment on the terms of the licensing deals, citing confidentiality.
Deborah Mannis-Gardner, owner/president of DMG Clearances, says that because “Anxiety” lifted directly from the original recording of “Somebody” to incorporate it into a new song, DMG secured consent from both the master and publishing rightsholders. (Songs that interpolate, rather than sample, earlier hits only need to get consent from the publishing side.)
Mannis-Gardner says that sampled songs see twofold benefits: First, the publisher gets an ownership stake in the new song, thereby increasing the size of its catalog. Additionally, fans of Doechii’s “Anxiety” may find their way to streaming Gotye’s “Somebody,” which could then lead them to “Seville” — and both of those songs are likely to field synch inquiries.
Poster and Mannis-Gardner both say that in typical sample deals, the publisher owns a percentage of the copyright to the new song. Industry sources say it is also typical that publishers will negotiate a one-off, non-recoupable licensing fee of at least a few thousand dollars in addition.
If, as one-third co-writers, Gotye’s and Bonfá’s publishers negotiated 30% of the songwriting credit for “Anxiety,” that could result in nearly $72,000 each to Gotye and Bonfá’s publishers, with Gotye and Bonfá netting anywhere from $36,000 to almost $68,000, if they own their own publishing and have administration deals, Billboard estimates.
Industry sources say Gotye’s and Bonfá’s publishers’ likely got smaller cuts than that. However, what the artists stand to earn from the streaming and synch bumps to their catalogs, though harder to calculate, will also add to their bottom line.
“A sample elevates and increases the value of a song,” Mannis-Gardner says. “But keep in mind, music licensing, including sampling, is an emotional business. Approvals, denials and sample values are not based on a rate sheet. It is how the sampled copyright holder and creator feel about the new use.”
06/10/2025
Top executives at 10 of the biggest independent publishers in the business weigh in on the challenges and opportunities facing the sector right now.
06/10/2025
Anthem Music Publishing has acquired a catalog of songs written and recorded by Country Music Hall of Fame crooner Marty Robbins.
Among the titles in the newly-acquired catalog are Robbins’ 1960 hit “Big Iron,” which reached No. 26 on the Billboard Hot 100 and No. 5 on Billboard’s country chart. The catalog also includes Robbins’ 1959 hit “El Paso,” which topped both the Billboard Hot 100 and the Hot Country Songs chart. “El Paso” won a 1961 Grammy trophy for best country & western recording, and was inducted into the Grammy Hall of Fame in 1998. His hit “My Woman, My Woman, My Wife,” which won best country song in 1971, is also included in the catalog acquisition.
Jason Klein, Anthem Music Group CEO, said in a statement, “Marty Robbins was a towering figure in American music – an artist whose storytelling transcended genre and era. His songs are woven into the fabric of country and western music heritage, and continue to influence artists and resonate with fans to this day.”
“We’re honored to see Marty’s music find a new home with Anthem Music Publishing,” the Marty Robbins Estate noted in a statement. “His songs have stood the test of time, captivating generations with their vivid storytelling and emotional depth. We’re confident that Anthem will not only preserve Marty’s legacy, but elevate it – introducing his work to new audiences while honoring the timeless spirit of the originals. Marty’s music has always belonged to the people, and we believe Anthem shares that same dedication to keeping it alive for generations to come.”
Trending on Billboard
During his four-decade career, Robbins found success as a singer, songwriter, musician, actor, author and even a NASCAR driver. He earned 11 Billboard Hot Country Songs chart-toppers, and several of his hits, including “El Paso,” “My Woman, My Woman, My Wife” and “A White Sports Coat (And a Pink Carnation)” were self-penned by Robbins. He earned two Grammy awards, was a member of the Nashville Songwriters Hall of Fame, and his songs “Big Iron” and “El Paso” were included in the Western Writers of America’s Top 100 Western Songs of All Time.
As a NASCAR driver, Robbins ran 36 NASCAR races between 1966 and 1982, earning six top 10 finishes, including a top 5 finish in the Motor State 500 in Michigan in 1974. Early in his racing career, he became a regular performer on the last segment of the Grand Ole Opry’s Saturday night shows, so he could take part in races prior to the show. He also starred in films and television series, including The Drifter, Western Caravan and Marty Robbins Spotlight. Robbins passed away in 1982 at age 57.
Gracie Abrams, Thomas Rhett, Aaron Dessner and Leon Bridges are performing at this year’s National Music Publishers’ Association annual meeting on Wednesday (June 11) at Lincoln Center’s Alice Tully Hall. The event, which acts as a state-of-the-union for music publishers, has continued to integrate more songwriters into the event in recent years to honor the talents that publishers serve every day.
Abrams and Dessner are part of a special segment of the meeting, dedicated to the Billboard Songwriters Awards, a collaboration between Billboard and the NMPA which was rescheduled from GRAMMY week due to the Los Angeles wildfires. Abrams is set to receive the Breakthrough Songwriter Award to account for her fast-growing career as an artist, and Dessner will be given Billboard‘s Triple Threat Award for his success as a songwriter, producer and musician. Though to pop fans Dessner might be best known for his work producing and writing with Taylor Swift, Bon Iver, Ed Sheeran and Abrams, he is also lauded in the indie rock space as a longtime member of the band The National. Both are set to perform.
Additionally, the NMPA is giving out awards of its own. It’s Non-Performing Songwriter Award this year is going to Rhett Akins, and as part of that honor, his son, Thomas Rhett, will perform a medley of his father’s vast country catalog, which includes songs like “Dirt On My Boots” by Jon Pardi, “Honeybee” by Blake Shelton, “I Don’t Want This Night To End” by Luke Bryan, “Small Town Boy” by Dustin Lynch, “Look What God Gave Her” by Rhett, and many more.
Trending on Billboard
The NMPA’s Songwriter Icon this year is Kacey Musgraves, and Bridges is flying in to pay tribute to Musgraves by performing a rendition of two of her songs.
The NMPA Annual Meeting, which is attended by a who’s who of the music publishing business, will also feature a keynote conversation with Oliver Schusser from Apple Music, and an address from the organization’s CEO/president David Israelite this year. Typically, Israelite’s speech includes a major announcement about new action the NMPA is taking to protect publishers and their writers. Last year, Israelite took on Spotify for cutting payments to publishers by about 40% that year through a multi-faceted attack plan, which is still on-going. He has also used the stage to announce lawsuits against Roblox, Twitter and more for using publishers’ copyrights without a license in previous years.
In 2024, the NMPA gave the Songwriter Icon award to Lana Del Rey and the Non-Performing Songwriter Icon award to Savan Kotecha, who has written hits like “Azizam” by Ed Sheeran, “God Is A Woman,” “Break Free” and “Break Up With Your Girlfriend, I’m Bored” by Ariana Grande, “I Can’t Feel My Face” by The Weeknd, “What Makes You Beautiful” by One Direction and more.
Lola Young and Simply Red’s Mick Hucknall will collect prestigious awards from ASCAP at a ceremony in London next Tuesday (June 17).
The “Messy” hitmaker will be awarded the Vanguard Award which recognises an artist whose “innovative work is helping to shape the future of music,” and follows Young’s success at the Ivor Novello Awards in May in the Rising Star Category.
First released in May 2024, “Messy” enjoyed a month-long stay at No. 1 on the U.K.’s Official Singles Chart earlier this year, and peaked at No. 14 on the Billboard Hot 100. The song also topped the Pop Airplay and the Rock & Alternative Airplay charts. Later this month, Young will perform at Glastonbury Festival.
Simply Red’s Hucknall will also be celebrated at the ASCAP London Music Awards with the Golden Note Award which recognizes his songwriting catalog over the past 40 years as the lead singer and songwriter in Simply Red as well as in his solo career.
Trending on Billboard
The group released their debut LP, Picture Book, in 1985 and the band boasts five U.K. No. 1 LPs, and two of their songs – “Holding Back the Years” (1986) and “If You Don’t Know Me by Now” (1989) – hit No. 1 on the Billboard Hot 100. In 2025, Simply Red embarked on a 40th anniversary tour through the U.K., Europe and South America.
”Mick Hucknall has made an indelible mark on a generation with his impassioned vocals and classic songwriting,” said songwriting great and ASCAP chairman of the board and president Paul Williams. “His singular mix of soul, funk and pop sounds made him a master of blue-eyed soul. We are thrilled to present him with the ASCAP Golden Note Award.”
The Golden Note Award has not been handed out since 2016 when Duran Duran were chosen for the prize. Other previous recipients include George Michael, Elton John, Blondie, Usher, Lionel Richie, Jay-Z and Stevie Wonder.
ASCAP will celebrate both Young and Hucknall at a private event in London on June 17, with U.K. songwriters honored in categories such as song of the year, top streaming song, top hot dance/ electronic song and more.
Sony Music Publishing has acquired Hipgnosis Songs Group, multiple sources confirmed to Billboard. Emails obtained by Billboard under the subject line “Update from Sony Music Publishing” said that the company “has entered into an agreement with Recognition Music Group (‘RMG’) to acquire its subsidiary Hipgnosis Songs Group (‘HSG’), effective immediately.”
Hipgnosis Songs Group is one of the companies considered to be under the umbrella of Recognition Music, formerly known as Hipgnosis — which also included Hipgnosis Songs Fund and Hipgnosis Song Management — and is the subsidiary that has housed Big Deal Music and its administration business since the company acquired Big Deal in 2020.
The HSG catalog includes the 4,400 copyrights originally from Big Deal, including songs recorded by Shawn Mendes, Panic! At the Disco and One Direction. According to HSG’s Instagram page, their repertoire also includes publishing shares of songs like “Taste,” “Espresso” and “Feather” by Sabrina Carpenter; “Ordinary” by Alex Warren; “Lose Control” by Teddy Swims; and many more current hits.
Trending on Billboard
“With this agreement, Sony Music Publishing now owns and administers the Hipgnosis Songs Group catalog, serving as the full-service publisher for its clients and roster of songwriters globally,” the email to HSG songwriters, composers and clients reads.
The news of this deal arrives just three months after Hipgnosis rebranded under the new name Recognition Music Group, bringing the bundle of related Hipgnosis titles under one name and one roof. As part of that previous news, it was noted that Hipgnosis Songs Group was still under the ownership of Blackstone and that the company said the division was under strategic review. Billboard reported that Recognition was looking to partner with publishers and music companies for the administration of their assets.
Over the years, Hipgnosis has largely driven the movement to treat music as an attractive asset class for Wall Street investors, bidding sky-high prices for catalogs by Red Hot Chili Peppers, Neil Young, Lindsey Buckingham, Blondie, Justin Bieber and Journey, among others. But Hipgnosis Songs Fund, which was publicly traded on the London Stock Exchange since 2018, has had a rocky last few years. By 2023, HSF ultimately left its investors frustrated as its stock price fell and its dividend was cancelled. Eventually, in July 2024, HSF was sold to private equity giant Blackstone for $1.6 billion.
A rep for Recognition Music declined to comment. Reps for Sony Music Publishing did not immediately respond to Billboard’s requests for comment at press time.
The email notes that “over the next few months, we will be transitioning the company to SMP’s services and systems. We are working closely with HSG to ensure that all clients will receive the high level of service that you have come to expect.”
By acquiring hits owned or administered by HSG, Sony Music Publishing — which often ranks as the largest publisher by market share on the Hot 100 and Pop Radio Airplay charts on Billboard’s Publishers Quarterly — has become an even more dominant player in popular music.
Read an excerpt of the email below:
Dear Hipgnosis Songs Group Songwriters, Composers and Clients:
On behalf of Sony Music Publishing (“SMP”), we are pleased to inform you that Sony Music Publishing has entered into an agreement with Recognition Music Group (“RMG”) to acquire its subsidiary Hipgnosis Songs Group (“HSG”), effective immediately.
With this agreement, Sony Music Publishing now owns and administers the Hipgnosis Songs Group catalog, serving as the full-service publisher for its clients and roster of songwriters globally.
With a unique roster of contemporary songwriters and timeless classics, HSG aligns with SMP’s mission to elevate and support the work of the world’s most impactful songwriters, and we are honored to represent you and your songs.
Over the next few months, we will be transitioning the company to SMP’s services and systems. We are working closely with HSG to ensure that all clients will receive the high level of service that you have come to expect. No further action is required from you at this time.
In the meantime, your current HSG team remains available to address questions or creative inquiries. You can also reach HSG at HSGcreativeteam@hipgnosissongs.com. For the time being, your royalty payments will continue to be processed and distributed through HSG’s system and your current account access remains unchanged. We will reach out to you directly with important transition updates as they come.
Thank you. We look forward to working with you in this next chapter.
Sincerely,
The Sony Music Publishing Team
Primary Wave has partnered with The Cars to acquire the rockers’ artist royalties, the company announced today (June 4). The deal, which encompasses classic rock staples such as “Just What I Needed,” “My Best Friend’s Girl” and the Billboard Hot 100 top five hits “Shake It Up” (No. 4) and “Drive” (No. 3), follows Primary […]
PRS For Music paid out £1.02 billion ($1.3 billion) in royalties to songwriters, composers and publishers in 2024, according to reports from the U.K. collection society.
That figure is up 8.1% from 2023, when royalty payouts to its members reached £943.6 million ($1.2 billion). This means that PRS For Music have delivered early on their five-year plan to achieve £1 billion in royalties paid out by 2026.
Last year, reported revenue growth was up 6.1% to £1.15 billion ($1.46 billion), marking a notable deceleration from the 12.5% increase recorded in 2023, when PRS For Music broke the billion-pound barrier for the first time.
Trending on Billboard
Elsewhere, international revenues at the end of 2024 jumped 79.6% from 2015 levels to £351.4 million ($448.8 million). The organization attributed the continued growth to “a renewed commercial mindset and investment in data and technology infrastructure.”
The society’s online royalties grew 9% in 2024 to £401.2 million ($512 million). Collections from the video games sector accounted for a significant portion of this increase, after PRS For Music secured a partnership with Sony Playstation’s streaming service to build on its long-standing download deal.
Public performance royalty collections were also a key driver of growth, increasing by 14% in 2024 primarily due to a lift in collections from the live sector, which were up 30% year-on-year.
In a statement, PRS For Music’s CEO Andrea Czapary Martin — who features in the inaugural Billboard U.K. Power Players list — said, “PRS members have the right to demand their society think differently, challenge the norms in an industry where tradition is too often an excuse for inaction. To constantly evolve to meet their changing needs and expectations.
“Indeed, it is because we recognize the need to constantly challenge ourselves that we have been able to double the royalties paid to songwriters, composers and publishers in less than a decade.”
The above figures were announced at PRS For Music’s annual general meeting, which took place in London on Tuesday (June 3) and was also where new council representatives were elected. Singer-songwriter Cathy Dennis has joined the Writer Council as a member alongside Tom Gray, chair of the Ivors Academy, and composer Philip Pope.
PRS for Music’s Publisher Council increased its membership, welcoming including Megan Hall, senior vp of business and legal affairs at Concord Music Publishing; Nigel Gilroy, global head of legal & business affairs at Novello and Company; Daniel Lang, senior vp of global society relations & digital rights at Warner Chappell Music; and Richard Paine, director of commercial rights & business affairs at Faber Music.
Julian Nott, chair of the PRS Members’ Council, said, “I’m delighted to welcome our new and re-elected Council members. The wealth of knowledge, experience and expertise that they have amassed during their careers will bring a huge amount of insight and ensure the Council continues to deliver the best possible society for members and that every part of the membership is served by the organization.”
