Despite the reintroduction of shows, live music revenue declined again in 2021.

Despite concerts resuming in the summer, royalties from live music performances plummeted by about 30% in 2021. According to PRS for Music, the body that collects royalties for songwriters, concert revenues were under £8 million, down from £11.3 million in 2020 and £54 million in 2019.

It further stated that only 19,300 setlists were reported last year, a significant decrease from the 124,000 documented before the pandemic.

With over 240 large tours scheduled for the UK this year, she claimed there is “renewed hope” in the industry.

Dua Lipa, Little Mix, and Stormzy are already on the road, while stadium gigs by Harry Styles, Elton John, The Rolling Stones, and Adele are on the horizon for the summer.

However, sales are not likely to reach pre-pandemic levels until 2023, according to Martin.

Despite difficulties in the live music market, PRS had a strong year, collecting £777.1 million in royalties, only slightly less than the £810 million collected before the pandemic.

Last year, the firm analysed 27 trillion “music performances,” comprising streams, downloads, radio and TV broadcasts, as well as music played in pubs, clubs, hair salons, and event venues, according to the corporation.

The popularity of those songs, as well as others like Adele’s Easy On Me, resulted in royalties of £225.5 million from streaming services like Spotify and Apple Music, up 45 per cent from two years ago.

Artists will also be paid royalties if their songs are used on TikTok, thanks to a new contract.

As royalties from new services like Disney+ and Apple TV began to arrive, revenue from music included in video-on-demand services like Netflix increased to £34.5 million.

Public performance revenue increased as well, which includes music played in stores, hotels, restaurants, and nightclubs.

On the other hand, PRS paid its members less (£677.2m) than it did in 2020 (£699.4m). Martin explained that this was due to the “lag” in getting royalties from other countries, which meant that the impacts of 2020’s slump were just now showing up in overseas payments.