Statement on the GRD

Statement on the GRD

We are disappointed the GRD cannot move forward as planned, though we remain committed to the principles of a single point of works registration and reconciliation of ownership shares under broad stakeholder governance. These principles remain key to the efficient processing of multi-territory licences and accurate distribution of royalties across all usages of creative works. We are actively studying alternative ways of achieving these goals, taking full advantage of the learning gained from the GRD project to date.

About PRS for Music

PRS for Music is a world-leading music collective management organisation representing the rights of more than 165,000 talented songwriters, composers and music publishers around the globe. Headquartered in the UK, it works diligently on behalf of its members to grow and protect the value of their rights. With a focus on innovation and integrity, PRS for Music is redefining the global standard for music royalties to ensure creators are paid whenever their musical compositions and songs are streamed, downloaded, broadcast, performed and played in public. In 2022, PRS for Music collected £964m and paid out £836.2m in royalties. prsformusic.com