PRS for Music welcomes the DCMS Committee's report into the economics of music streaming
We welcome the DCMS Committee’s report into music streaming. The Committee’s inquiry has provoked a wide and public debate on what songwriters, composers, and publishers have long understood - the value of the streaming market is not being fully realised. This report is clear in its recognition of the importance of music creators and PRS for Music is committed to growing and protecting the rights entrusted to us, ensuring the value of our members’ work is properly reflected in the royalties they receive. We will be working actively with the government as it considers its response to today’s report promoting positive solutions to the issues raised.
About PRS for Music
PRS for Music is one of the world’s leading music collective management organisations representing the rights of more than 165,000 talented songwriters, composers, and music publishers around the globe. Headquartered in the UK, it works diligently on behalf of its members to grow and protect the value of their rights. With a focus on innovation and integrity, PRS for Music is redefining the global standard for music royalties to ensure creators are paid whenever their musical compositions and songs are streamed, downloaded, broadcast, performed and played in public. In 2022, PRS for Music collected £964m and paid out £836.2m in royalties. prsformusic.com