By Jim McCarthy Mar 19, 2009 0 comments

“Live Has Officially Taken Over Recorded…”

Britain’s Performing Rights Society (PRS) keeps track of earnings by bands in the UK in both recorded and live categories, and for the first time ever, the Live business is bigger than the recorded business in terms of its size.

To wit:

“Figures state the recorded music industry generated £896m during 2008.

This compares with the estimated worth of the live music, increasingly vital for new and established bands, which amounted to an estimated £904m.”

The PRS refers to this moment as a ‘changing of the guard’ and they’re absolutely right.  It’s much, much bigger than they suspect, but they’re still right.

PRS’s Chief Economist Will Page even went so far as to make a very Live 2.0-like statement in this:  “We now have a situation where live has officially taken over recorded.”

Quite right, Mr. Page, and it goes well beyond the music business.

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