PRS for Music has today announced a -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 news follows last week’s announcement of a new PRS for Music online portal which will provide songwriter and composer credits alongside critical links between works and recordings identifiers.
“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,” said Andrea 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.