British performance rights organization PRS for Music saw a nearly 20% fall in collections for its members, warning of difficulties ahead. It’s not all bad news, though, as the society saw record payouts of £699.4m ($973.5m) to songwriters, composers, and music publishers. However, collections on behalf of its members fell 19.7% to £650.5m ($905.4m). That’s mostly attributed to a precipitous 79.1% drop in revenue from live music events in 2020.
Source: PRS for Music Reports 20% Downturn In 2020 – Says ‘Difficulties to Come’