PRS for Music supports This is Music 2022 report
Collective voice of the UK music industry publishes its annual report today (22 September), which reveals how the sector began to recover from the initial impact of the pandemic.
We support UK Music and its recommendations and call on the UK government to invest in the five-step plan. This includes setting a gold standard in intellectual property protection and reducing red tape for EU touring, to ensure the UK retains its position as a leader across all sectors of the music market.
The UK is the second-largest exporter of music in the world however the global market for music is becoming far more competitive than ever before. Although this recent report highlights publishing-related income in 2021 as showing strong growth with substantial increases in streaming revenues, we must continue to work together to grow, nurture, protect and support songwriters, composers and rights owners alike, in order to maintain a sustainable future across this important sector of our UK economy.
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