Online music licensing revenues pass radio for first time

From The Guardian:

British songwriters, including acts such as Ed Sheeran and Calvin Harris, netted a record total of £51.7m in UK royalties from digital music services last year, as online licensing revenues eclipsed radio for the first time.

New licensing agreements with Google Play, Microsoft Xbox and other online players helped UK digital revenues soar 32.2% in 2012, from £39.1m in 2011.

Digital music players are now the biggest single source of income for songwriters in the UK, having overtaken radio last year after previously eclipsing live events and pubs, according to the UK royalties body PRS for Music.

The advent of downloads and streaming services, such as Apple iTunes and Spotify, has more than doubled UK online licensing revenues, from £23.3m in 2008.

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