PPL AND PRS FOR MUSIC JOINT VENTURE OFFICIALLY LAUNCHES
Licensing of music performed in public now administered by new Leicester-based three way partnership, PPL PRS Ltd
The UK’s two music licensing firms, PPL and PRS for Music, have this week launched their three way partnership to create one single firm – PPL PRS Ltd – to manage the licensing of music utilized in public, often called “public efficiency”.
In 2016, the 2 firms generated virtually £270 million via the licensing of reside and recorded music to companies and organisations – from bars, pubs and golf equipment to hairdressers, health centres and resorts. After operating prices, this income is distributed to their respective members – performers and document firms for PPL and songwriters, composers and publishers for PRS for Music – and acts as an necessary revenue stream for the music enterprise. The brand new three way partnership would be the largest of its sort on the planet.
The 200-person firm is predicated in Leicester and is equally owned by PPL and PRS for Music. It has been created to supply clients with a streamlined service, a single level of contact, and one licence protecting each firms’ respective rights, thereby simplifying the administration and making it simpler to play and carry out music in public. The joint licence known as TheMusicLicence and brings to an finish the necessity for patrons to buy separate PPL and PRS for Music licences from every particular person organisation.
Commenting on the official launch of the brand new firm, PPL Chief Govt Peter Leathem stated, “In PPL’s 84 yr historical past, the three way partnership with PRS for Music is doubtless essentially the most formidable undertaking that we now have undertaken. To navigate the complexities and obtain it inside two years is testomony to our shut working relationship with PRS and the dedication of our respective groups. This is a vital second for the music enterprise at giant and is a transfer in the direction of better efficiencies for our licensees and better returns for our members who create the music loved by these we license throughout the UK.”
PRS for Music Chief Govt Robert Ashcroft added, “Now we have invested years of effort and thousands and thousands of kilos to simplify music licensing for UK companies and on behalf of PRS for Music, I’m delighted to launch what’s the largest three way partnership of its sort on the planet. That is the start of a brand new period in public efficiency licensing, which can deliver actual advantages to our members and clients alike.”
Suzanne Smith, who was appointed in April 2017 to the place of Managing Director for PPL PRS Ltd, stated, “We’re very excited to now provide clients of each PPL and PRS for Music a extra streamlined strategy for licensing their companies to play and carry out music. With the launch of TheMusicLicence we’re offering one licence and one contact, enabling firms and organisations to boost their buyer and worker expertise by enjoying music of their premises.”
The three way partnership was initially introduced in February 2016. Later that yr, competitors clearance from the Competitors and Markets Authority was given and PPL and PRS for Music had been in a position to signal a shareholders settlement that set out how the three way partnership firm could be owned and operated. The Board of the brand new firm will comprise PPL PRS senior administration workforce members in addition to representatives from each PPL and PRS for Music.
PPL and PRS for Music will proceed to function individually within the different areas of their companies, together with representing their members, amassing royalties from worldwide societies, growing, setting and consulting on their respective tariffs and licensing schemes, and licensing broadcast, on-line and recorded media clients.