MMF joins the FAC in calling for an open discussion with PRS about increases to admin rates on songwriter royalties
PRS for Music’s announcement of a sudden and dramatic increase in administration rates, in some cases doubling and quadrupling the fees on overseas income collected for songwriters, could not have come at a more pertinent moment. Apparently implemented to compensate for historic failures within PRS’ own distribution systems and pensions commitments, it will result in yet another levy on creators’ earnings – and at the very moment when, thanks to the monumental demand for audio streaming, their royalties should be increasing. New and upcoming writers will be penalised for the past business mistakes of others.
In direct contrast to the artists who perform on recordings, who are increasingly compensated in a transparent and time-efficient fashion, those who write the songs frequently find their royalties shuttled through a network of overseas collecting societies and publishers. Such inefficiencies result in less and less money finding its way to songwriters pockets.
As a result, MMF is calling on PRS to provide greater clarification about this announcement.
Alongside the Featured Artists Coalition, we would like to know the rationale for writers having to pay more in admin fees on both live and overseas income.
We would also like more information as to how these decisions were reached, and confirmation that the raised period will be limited?
Read PRS Announcement here
Read FAC Statement here
On May 9th at Brighton’s Great Escape convention, the MMF will publish the next chapter of Dissecting The Digital Dollar – our groundbreaking initiative that has sought to demystify and untangle the complexities of audio streaming and music licensing.
This upcoming edition focusing on digital $ong Royalties will explore the arcane system of how songwriters and composers are paid when their works are streamed online. It will provide practical suggestions on how these processes can be simplified so more money makes its way back to music creators.
To read more see www.themmf.net/digitaldollar