Robert Ashcroft Chief Executive PRS for Music said:
“The Commission has outlined a new framework for consistent and high standards for transparency and accountability to the members that we welcome as the route to building further confidence in collective management. We also like the standards-based approach to data and processing capability to support multi-territory licensing, because it will provide the incentives for the market to develop and aggregate on a voluntary basis.”
“As a membership society, owned by its members and governed by a board of directors elected by its membership, PRS for Music has always set the standard for good governance and will continue to do so.”
Notes to editors:
- In 2011 PRS for Music distributed £557.2m to its membership
- Royalties collected are paid out quarterly and on average take 6 months to reach members
- PRS for Music is governed by a board of writer and publisher directors elected from amongst its membership
- PRS for Music represents the rights of 90,000 songwriters, composers and music publishers in the UK and through its international network a further 2 million music creators
- PRS for Music has led the way in licensing in online music services and in 2011 issued 71 online music licences, 17 of which were on a pan-European basis
- Full accounts and a financial overview can be viewed here www.prsformusic.com/aboutus
About PRS for Music
PRS for Music represents the rights of 111,000 songwriters, composers and music publishers in the UK. As a membership organisation it 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 over £3.5bn PRS for Music is uniquely placed to be a voice for music and music creators. Collecting £664.3m in 2014, PRS for Music is one of the world’s most efficient combined rights organisations. With over 100 representation agreements in place globally, PRS for Music's network represents over two million music creators.