PRS grudgingly admit digital sales offsets decline in physical revenues

Great news from the PRS - although the amount of money coming in from royalties on physical sales is still in decline, the loss was more than made up by more cash coming from online sales. That must be cheering everyone up at the PRS:

Announcing the figures, PRS for Music chief executive Robert Ashcroft said: “2009 was the first year in which the growth in revenues from the legal digital market compensated for the decline in revenues from traditional CDs and DVDs, though we remain cautious as to whether this represents a true turning point”.

Turning to look out the window, Ashcroft then said 'yeah, it's nice and sunny today, but it wouldn't surprise me if it dropped really cold at the end of the week and kills off all the plants."