The dashboard can be accessed through the member homepage, giving users the ability to take an in-depth look at specific works while building a comprehensive picture of when and how royalties are being generated.
The tool’s comparison functionality means music creators will be able to select multiple songs and compositions and analyse how they are performing against each other by revenue source and territory.
Meanwhile, timeline capability will also allow users to view plays and performances across specific time periods, enabling members to build a holistic picture of their royalties.
Access to this informed data will support career choices, touring decisions and open new markets to songwriter, composer and publisher members.
PRS for Music, which represents 140,00 songwriters, composers and publishers, tracks trillions of uses of music every year from streaming services, downloads, public performance, broadcast and live shows in over 150 countries.
Over 500 set lists are submitted to PRS for Music every single day and in 2018, over 500,000 new songs and compositions were registered with the organisation.
Maria Forte, music industry consultant, who has worked with Radiohead and Iron Maiden, comments: ‘The tool will make administering PRS statements so much more streamlined, from seeing the data you need quickly and in one place, to drilling down into that data and being able to find the required detail. I know some of my suggestions during the trial were taken on board and implemented, which is encouraging to see.’
Claire Jarvis, director of membership, PRS for Music, says: ‘We’re delighted that the new analytics service enables our members to interrogate the global usage of their music in an innovative way. We worked closely with them when building the new application and believe that our continued improvement to our digital offering will ensure that PRS remains one of the leading performing rights organisations in the world.’
Simon Darlow, deputy chairman, PRS for Music, adds: ‘PRS for Music members will benefit hugely from the new analytics dashboard. As a member myself, I believe that the tool will revolutionise the way we interact with our royalty data.’
Watch the video below for a demonstration of how the new dashboard works…