PRS for Music announces highest payment to members in 108-year history
£211m royalty distribution to members represents a 18% year-over-year increase of £32.5 million
6th October 2022, London, England – PRS for Music has today announced a record-breaking £211m royalty distribution to members, marking the highest ever payment in its 108-year history, and a 18% year-over-year increase on October 2021.
The record payment of royalties by PRS for Music reflects our relentless focus on maximising the value of members’ rights. Ensuring members are paid as quickly and accurately is at the heart of everything we do
Live and public performance royalties were up 210% on 2021, and includes all remaining royalties held for adjustment during the interruption to licensing during the pandemic. Music played overseas, including cable retransmission were up 2.5% against the same period in 2021. Further reinforcing the international value of members’ works and the diligent work of the PRS international team in identifying usage.
Over 160,000 songwriters, composers and music publishers in the UK and worldwide are represented by PRS for Music, with royalties paid to PRS members when their music is streamed, downloaded, broadcast, performed live and played in public.
About PRS for Music
PRS for Music is a world-leading music collective management organisation 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