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27th May 2011

A new chairman, a new Director and Priorities for 2011

The Annual General Meeting of the Performing Right Society took place on Thursday 26th May 2011 at the Millbank Media Centre in London. Hosted by new PRS Chairman Guy Fletcher OBE, the AGM saw a range of writers and publishers gather to elect board members and approve the 2010 financial accounts.

Chief Executive Robert Ashcroft congratulated Guy Fletcher OBE on his recent appointment and described him as, “a giant of the music industry” adding the society was “delighted to have him as Chairman”. Ashcroft told the attendees that whilst 2010 had been a tough year for the music industry, PRS for Music had “held the decline in royalty collections to only 1% of 2009’s record, with a total of £611.2m collected”. Emphasising the increased efficiency at the organisation Ashcroft informed members that “with an administration rate of 10.4%, PRS for Music is one of the most efficient collecting societies in the world and we were able to pay out a total of £547.9m to members.”

Priorities for the coming year were outlined, including: a focus on digital music services, online licensing and the recent Hargreaves Review of IP and Growth, as well as the organisation’s strategy of partnerships with like-minded societies, thus reducing costs and improving services to members and licensees alike. A decade of growth in international royalties was celebrated and potential growth from emerging markets including China and India will be analysed as part of a wider international strategic review.

Read Robert Ashcroft’s full speech.

Chairman Guy Fletcher OBE encouraged the membership to find their “collective voice”, calling on them to “speak up about what PRS for Music stands for, to both our friends and our detractors.” He continued outlining his priority as chair to: “ensure that PRS for Music and what we represent, becomes better known to our customers, our own members, the wider industry, the general public and of course, those in government at all levels.”

A new writer director - acclaimed film score composer Molly Nyman - was elected to the PRS board; existing directors Antony Bebawi, David Bedford, Chris Butler, Jane Dyball, Andrew King, Sarah Levine and Ellis Rich were also re-elected.

Guest speaker was John Whittingdale MP OBE, Chairman of the Culture Media and Sport Select Committee. Whittingdale praised the efforts of PRS for Music and the wider industry in their recent engagement with the Hargreaves Review and outlined the government’s view that the creative sector is vital to the future growth of the economy.

ENDS

For more information, get in touch:

Nicola Formoy, Public Relations Manager
nicola.formoy@prsformusic.com
02073064229 / 07843 529537
Barney Hooper, Head of PR
barney.hooper@prsformusic.com
02073064548 / 07979 757052

PRS for Music represents 75,000 songwriters, composers and music publishers in the UK. PRS for Music ensures creators are paid whenever their music is played, performed or reproduced; championing the importance of copyright to protect and support the UK music industry.  The UK has a proud tradition of creating wonderful music that is enjoyed the world over and PRS for Music has been supporting the creators of that music since 1914. 

PRS for Music provides business and community groups with easy access to over 10m songs through its music licences.  In an industry worth £3.9bn PRS for Music is uniquely placed to be a voice for music and can provide data and comment for all aspects of the business: live, broadcast, sales, online, touring and music creation and up to date analysis, research and trends about the industry.

www.prsformusic.com  
www.m-magazine.co.uk