Monday 27 September 2010
The partnership will see PRS for Music move its recorded media royalty processing onto the more modern and efficient NCB system, which will be developed to cater for PRS for Music requirements. Importantly for both PRS for Music and NCB, the partnership responds to rights holders’ desire for closer co-operation between societies to reduce society costs through the elimination of duplication in processing and in working together to build and run systems.
NCB and PRS for Music will establish a joint venture to undertake this development work and undertake future processing. A Programme Board comprising representatives from PRS for Music and NCB has been installed to oversee delivery of the programme, which is expected to deliver PRS for Music recorded media processing on the NCB system by the end of 2011.
Robert Ashcroft, Chief Executive of PRS for Music said:
"Our objective is to be the collecting society of choice for rights holders. Consolidation is essential to reducing society processing costs, and choosing NCB as our partner is an important step in positioning PRS for Music as a hub for rights administration within Europe."
Karsten Dyhrberg Nielsen, CEO of NCB said:
"NCB's joint venture with PRS for Music fully supports our core purpose of offering efficient, transparent and competitive copyright management to rights holders and our owners. Relying on state-of-the-art systems and our joint know-how, we are confident that we have chosen the right strategic partner in this area."
Nordisk Copyright Bureau administers the recording and copying rights in recorded music media and online services on behalf of composers, lyricists and music publishers. NCB is owned by the Nordic performing rights societies, and we operate internationally, having our primary activities in Europe. NCB is a Copenhagen-based company with branch offices in Helsinki, Oslo, Reykjavik, Riga, Stockholm, Tallinn and Vilnius.
Our annual turnover is EUR 52.1 million. Visit www.ncb.dk to find more information.
About PRS for Music
PRS for Music represents the rights of over 118,000 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 £4.1bn PRS for Music is uniquely placed to be a voice for music and music creators. Collecting £537.4m in 2015, 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.