UK music tour revenues up 30% to more than £400m in 2008

PRS for Music the organisation that collects royalties for songwriters and composers, today published details of revenues generated by touring acts in 2008.  The PRS research shows that the top musical talent generated more than £403m in touring revenues in the UK last year, up from £331m the year before, a rise of more than 30%.
PRS for Music licenses all the live performances in the UK and is able to track trends in consumer spending. In addition, PRS for Music staff regularly attend concerts on these tours, in order to ensure that members are paid their proper royalties.
The top touring acts in 2008 were:

1. Spice Girls
2. Kylie Minogue
3. Elton John
4. Bon Jovi
5. Neil Diamond
6. Bruce Springsteen
7. Westlife
8. Madonna
9. Foo Fighters
10. Boyzone
Barney Hooper at PRS for Music said:
“It has already been noted that recorded music’s share of consumers’ disposable income is going down, while the share for live music is going up. The latest data from PRS data suggests that the longevity of the top acts is a factor in this. Between them, the top acts in 2008 have around 200 years of touring experience. More than ever, consumers want to see the legends of the industry in the flesh. This suggests that the value of touring will only continue to grow.”
The value of tours has increased steadily from £251m in 2005, to £297m (2006), £311m (2007) and £403m (2008).
The top touring acts, 2005 – 2008 were:
1. Take That
2. Girls Aloud
3. Westlife
4. Status Quo
5. Kylie
6. Kaiser Chiefs
7. X Factor
8. Katherine Jenkins
9. James Blunt
10. The Osmonds
Steve Porter, Chief Executive at PRS for Music said:
“Live music is more popular than ever and therefore it is a great UK success story, generating huge revenues for UK PLC. In particular, older talent is driving demand. While these trends continue, PRS for Music will continue to make sure that this income is collected.”