Record royalty collections and plans for growth
Chairman Guy Fletcher OBE and Chief Executive Robert Ashcroft address PRS AGM
The Annual General Meeting of the Performing Right Society took place on Thursday 31st May 2012 at the Royal Society of Medicine in London. Hosted by PRS Chairman Guy Fletcher OBE, the AGM brought together songwriters and publishers to elect board members and approve the 2011 financial accounts.
Chief Executive Robert Ashcroft outlined the revenue growth the society had achieved in 2011, buoyed from collections overseas and also online music services. Collections for 2011 for PRS for Music were £630.8m with £557.2m paid out to members, a 3.2% rise on 2010.
The strategic priorities for the organisation were shared with members, including:
- Promoting and protecting the value of copyright
- Growing revenue, particularly from the use members repertoire abroad
- Running the business more efficiently
- Offering ever improved services to members
- Partnering with other societies to consolidate both front and back offices to deliver better service at a lower cost
Chairman Guy Fletcher OBE congratulated members on an outstanding year for their music including global commercial success and Grammy, IVOR and BRIT award recognition.
Three writer directors were reappointed to the Performing Right Society, Mick Leeson, Lynsey de Paul and Edward Gregson; Publisher director Simon Platz was reappointed and John Minch appointed as a new director.