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 represents the rights of over 160,000 songwriters, composers, and music publishers in the UK and around the world. On behalf of its members, it works diligently to grow and protect the value of their rights and ensure that creators are paid transparently and efficiently whenever their musical compositions and songs are streamed, downloaded, broadcast, performed and played in public. In 2021, 27 trillion performances of music were reported to PRS for Music with £677.2m paid out in royalties to its members, making it one of the world’s leading music collective management organisations. prsformusic.com
PRS for Music’s public performance licensing is now carried out on PRS for Music’s behalf by PPL PRS Ltd, the joint venture between PPL and PRS for Music.