PRS for Music pays out record amount
PRS for Music Pays Record £127m to Songwriter, Composer and Music Publisher Members
PRS for Music today published details of its first distribution of 2011 to members for the playing and performances of their music both in the UK and abroad.
The organisation distributes performing right royalty payments to its songwriter, composer and music publisher members four times a year and music creators will receive payment of their share of a distribution totalling £127m - the largest distribution to date in terms of both data and value.
PRS for Music also makes mechanical right royalty payments on a monthly basis to members.
- In order to secure the distribution, PRS for Music analysed 44.9 million plays and performances of music. More than 640,781 individual musical works were identified as being performed and paid a royalty.
- UK royalties account for 72% of the current distribution, with 28% coming from international markets, notably the US, The Netherlands and France.
- In the past year the percentage of new female members has gone up by 16% including Diana Vickers, Nadine Coyle and Ruth Lorenzo who joined during 2010.
With the increased challenges we have faced during the past year, PRS for Music has performed well for our members, collecting £611.2m. Whilst revenues collected this year were reduced by £7m, an increased focus on reducing administration costs and improved efficiency has meant that the amount paid to our members reduced by only £0.8m.
PRS for Music announced last month that 2010 royalty collections had dipped to £611.2m in part offset by stronger international and radio royalty revenues. The approval of the 2010 accounts and the election of board directors will take place at the AGM on May 26.