For the first time, the growth in online music revenue ( £12.8m) has outpaced the decline in traditional CD and DVD formats ( down £8.7m).

Overall PRS for Music says that music royalty revenues increased by 2.6% in 2009.

CEO Robert Ashcroft comments: "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.

"The next decade does however promise further growth in earnings from the legal digital market as well as the use of British music overseas."

Story provided by Business Financial Newswire