PRS for Music has issued a statement in response to the DCMS Committee's publication of its report: “Economics of music streaming”, in which MPs called for a “complete reset” to fairly reward performers and creators. PRS for Music said:
“We welcome the DCMS Committee's report into music streaming. The Committee's inquiry has provoked a wide and public debate on what songwriters, composers, and publishers have long understood – the value of the streaming market is not being fully realised. This report is clear in its recognition of the importance of music creators and PRS for Music is committed to growing and protecting the rights entrusted to us, ensuring the value of our members' work is properly reflected in the royalties they receive. We will be working actively with the government as it considers its response to today's report promoting positive solutions to the issues raised.”
To read PRS for Music's statement on its website, click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
