Artists Earned More From Live Performances Than Recordings In 2008

Artists now earn more money from their live performances than their recordings, the Performing Rights Society (PRS) has said.

Live music revenues earned an estimated £904million in 2008 compared to £896 from recorded music.

It is the first time end of year figures from live music have surpassed the money musicians accumulate from their recordings.

The PRS, which collects royalties on behalf of artists, said the figures showed a “changing of the guard”.

For many musicians, particularly new and unsigned artists, live performances have become a vital revenue source as fans turn to the internet to source their music.

Will Page, the PRS's chief economist, told the BBC: "We've been doing some maths back at the office.

"We have all the data on live music at the PRS because we license all the live performances that go around the country, so we're actually able to put a number on how much live music is worth."