British collecting society PRS for Music has announced its financial results for 2012, revealing that its collections rose 1.7% year-on-year to £641.8m, with online revenues up 32.2% to £51.7m for the year. The society cited its new deals with Google Play, Vevo and Xbox Music as part of this growth, although online music services still only account for 8% of PRS members’ royalty income. That said, PRS notes that online now provides a bigger income stream for its members than radio, live or pubs. PRS says it paid £571.9m out to members, up 2.6% on 2011, as it reduced its costs by £3.6m during the year.

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