Worldwide royalty collections expected to drop by 35%

A report into worldwide royalties estimates collections in music, visual arts, drama and literature could decline by up to 35% this year.

The annual Global Collections Report, published by the International Confederation of Societies of Authors and Composers (CISAC), cites Covid-19 as the reason for the decline.

The report also shows the US to have the highest market share of royalty collections, followed by France, Japan and Germany.

The UK ranks fifth, with a market share of 8.4%. Its year-on-year growth in collections is 12.3%, meaning the UK is currently outperforming the global market.

CISAC Director General Gadi Oron attributed the UK's growth in royalty collections to copyright collective PRS for Music’s investment in systems and networks.

"It’s the UK talent, it’s the fact that collections around the world are improving and more royalties are repatriated."