PRS For Music and NCB Join Forces on Recorded Music Operations
The partnership will see PRS for Music move its recorded media royalty processing onto the more modern and efficient NCB system
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."