PRS for Music announces highest payment to members in 108-year history 06 Oct 2022
£211m royalty distribution to members represents an 18% year-over-year increase of £32.5 million
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,” saidAndrea Czapary Martin, CEO, PRS for Music.
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.
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THE HEADLINES
Ministers reconsider changes to UK copyright law ahead of vote (see News)
How Ticketmaster swallowed the live entertainment scene (see Features)
Spotify executive on why 'per-stream rate' is one of the most misleading metrics in music (see Opinion)
BPI responds to government’s proposed amendments to the Data Bill related to AI and copyright (see News)
‘AI and intellectual property — a pivotal moment for the UK’s creative industries’ (see Opinion)
BPI's new Yearbook reveals Country music's surging popularity (see News)
How Live Nation calls the tune for the live music industry (see Features)
How economic volatility will impact US labels’ fandom monetisation push (see Comment)
Spotify is said to be raising its subscription prices across Europe and Latin America (see Digital)
Culture Secretary to review the Music Export Growth Scheme (see News)
The music industry wants solutions. But do listeners see problems? (see Comment)
The next generation of independent music tastemakers (see Features)
BPI survey confirms music consumers believe human creativity is fundamental to music (see Reports)
Eight UK cities join forces for 'Music Fans Voice' survey (see Reports)