Musicians and songwriters in the UK received a record amount of money last year, but the loss of live performances has posed a major threat to income for this year.
The warning was issued by the PRS for Music, the body that makes sure that 145,000 songwriters, composers and publishers in the United Kingdom are paid when their music is played or performed throughout the world.
The organisation collected a record £810 million last year, which was a rise of 8.7%.
However, it did say that Covid-19 would most likely result in an “inevitable decline” in 2020 and 2021.
Chief executive, Andrea Martin, said: “Even though we had a record-breaking year, we know very well that we are in unprecedented times”.
She said that revenues from “live music and public performance will be hit” not just in 2020 but also in 2021, as international payments often takes time to trickle down.
She added: “There will be a downfall, but by how much and by what per cent … your guess is as good as mine”.
The situation will hit smaller acts, many of whom were already struggling before the coronavirus pandemic, the hardest.