June 23, 2009

By By Andre Paine, London

PRS For Music has reported a 30% rise in touring revenues to ?403 million ($662.8 million), up from ?311 million ($511.5 million) the year before.

The U.K. songwriters' and publishers' collecting society published its 2008 tour revenue figures today (June 23).

PRS for Music licenses all live performances in the U.K. and collects 3% of the gross box-office, for distribution to the songwriters and publishers. A consultation is set to begin next month as part of a review of the rates by PRS for Music.

The biggest tour by income for PRS for Music in 2008 was the Spice Girls, followed by Kylie Minogue, Elton John, Bon Jovi, Neil Diamond, Bruce Springsteen, Westlife, Madonna, Foo Fighters and Boyzone.

"Live music is more popular than ever and therefore it is a great U.K. success story, generating huge revenues for U.K. PLC," said Steve Porter, chief executive at PRS for Music, in a statement. "In particular, older talent is driving demand. While these trends continue, PRS for Music will continue to make sure that this income is collected."

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