UK public performance joint venture PPL PRS has paid out more than $1.2 billion to creators and rights holders to date
UK public performance joint venture PPL PRS has enabled the distribution of £1bn (US$1.2bn) in revenue to music creators and rightsholders in the five years since its inception in 2018.
PPL PRS, which launched in 2018, celebrated its fifth anniversary on Tuesday (February 28).
The group was formed by UK collecting societies PPL and PRS for Music to provide a one-stop shop for companies and organizations wishing to license recorded music to the public.
The joint venture, equally owned by PPL and PRS for Music, offers a joint license called TheMusicLicence, which allows customers – such as shops, bars, restaurants, nightclubs, live sports and music festivals – to purchase music licenses from PPL and PRS for Music in a single transaction.
In conversation with MBW In 2020, PPL Chief Executive Peter Leathem OBE said the launch of PPL PRS has made license coverage broader, allowing customers to increase license revenue and reduce costs by only needing to apply for a single license.
“Despite the challenges posed by the COVID-19 pandemic, the joint venture has enabled the distribution of more than £1 billion in royalties to performers, songwriters, publishers and recording rights holders.”
Peter Leathem OBE, PPL
During the pandemic, PPL PRS payments suspended for TheMusicLicence from its customers for the period they were closed due to COVID-19 restrictions. The joint venture had instead requested a prorated credit for the period of closure.
“Despite the challenges posed by the COVID-19 pandemic, the joint venture has facilitated the distribution of more than £1 billion in royalties to artists, songwriters, publishers and recording rights holders,” said Peter Leathem OBE, Chief Executive of PPL.
Andrea Gray, Managing Director of PPL PRS added: “We have chosen not to charge any stores that have had to close due to the pandemic or have been unable to play music due to restrictions. This of course impacted the amount of money we were able to return to members of PPL and PRS for Music in royalties, but I am pleased that we are now seeing a return to normal business.”
Gray joined the joint venture in late 2019, before the pandemic turned the live music industry on its head.
“When I joined the company in late 2019, faced with the unprecedented events of 2020 and 2021 caused by COVID, the company quickly adapted to support both our customers and the music creators and rights holders who… represent our parent organizations,” Gray said.
As well as supporting its customers during the pandemic, PPL PRS says it has also helped create jobs in the East Midlands region.
Based in Leicester, PPL PRS claims it has become one of the city’s largest employers and works with local colleges, universities and cultural and creative partners such as the Curve Theatre.
“The launch of PPL PRS Ltd in 2018 was a milestone for the music industry after 84 years of PPL and PRS for Music independently licensing the public use of music across the UK. Five years later, both music users and music creators are reaping the benefits,” said Leathem.
Leathem added: “I would like to thank everyone who has been a part of this journey over the past five years and I look forward to continuing to work together to grow this important revenue stream. As other organizations around the world seek to follow in our footsteps, we will continue to share our expertise and knowledge to further strengthen the global related rights sector and ensure music is fairly rewarded.”
Leatherheads PPL. In the first year of the pandemic, PPL raised £225.7m for its members, down 17% from 2019. However, the executive at the time said that following the easing of restrictions in the UK, PPL remained optimistic about the future.
“The groundbreaking partnership with PPL that led to the launch of TheMusicLicence in 2018 is a testament to our shared goal of providing a better experience for our customers.”
Andrea Czapary Martin, PRS for Music
Meanwhile, Andrea Czapary Martin, Chief Executive Officer of PRS for Music said: “The groundbreaking partnership with PPL that led to the launch of TheMusicLicence in 2018 is a testament to our shared goal of delivering a better experience for our customers. This vision for more collaboration and innovation has provided over £1billion in royalties to music creators since its inception, ensuring songwriters, composers, musicians and performers get paid when their work is played.”
“It also guaranteed unified support for clients during the pandemic and in their recovery over the past year. I look forward to working with Peter Leathem and Andrea Gray to continue building the company’s success.”
PPL PRS Managing Director Andrea Gray added: “PPL PRS continues to grow and partner with more companies to bring the benefits of music making to their clients and employees and I look forward to building on the achievements of 2022 and ensuring that.” 2023 will see another record year for all the hard working music creators and rights holders that PPL PRS supports.”
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https://www.musicbusinessworldwide.com/uk-public-performance-joint-venture-ppl-prs-has-paid-out-1-2bn-to-creators-and-rightsholders-to-date/ UK public performance joint venture PPL PRS has paid out more than $1.2 billion to creators and rights holders to date