Digital services could soon oust ‘old-fashioned’ CDs from the market. Songwriters’ revenues in the UK have reportedly skyrocketed thanks to one stop entertainment shops like iTunes.
Online royalties soared 45.3% year on year last year, according to The Daily Telegraph.
The paper says British songwriters who are paid whenever their tune is played or performed, have made a small fortune in the rising popularity of digital services, with royalty payments hitting £635.3m.
A surge in downloading has offset the falling revenue from CD sales. The so called ‘recorded royalties’ – payments from CD sales – dropped 13 percent in 2011.