The money that musical acts are receiving from concerts has soared, and has now exceeded songwriting royalties for the first time in history.
Traditionally, artists makes most of their money from songwriting royalties with tours being viewed as a means of promoting the latest release. However, vastly different means of consuming music means that the amount of money artists have earned from songwriting has fallen.
The latest figures from the MCPR-PRS Alliance reveals that physical albums generated £131 million this year, but royalties from concerts is set to exceed £143 million.
The figures highlight the growing emphasis that the music industry is placing on the live arena, as they struggle to adjust to a rapidly changing market place.
All of which is good news for Oasis, who have just announced a massive new tour for 2009 taking such enormous venues as Slane Castle from Ireland.
