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Music royalties fall for the first time ever

The Performing Right Society report a drop of 1 per cent in total royalties.

PRS have reported a 1 per cent year-on-year drop in royalties - the first time this has ever happened - from around £618m to £612m in 2010

Reasons for this include the closure of high street music outlets, lagging physical music sales, and the difficulty of regulating the use of music online.

Digital and physical sales dropped by 7 per cent in 2010 and the CD market itself fell by 12.4 per cent. This has led retailers such as HMV to close down many stores in an attempt to cut costs.

The diminishing amount of music retailers will continue to fuel the decline in music consumption as a whole.

Liam McLaughlin is a freelance journalist who has also written for Prospect and the Huffington Post. He tweets irregularly @LiamMc108.