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UK Composers And Songwriters Set For Biggest Ever Royalty Distribution
Composers and songwriters around the world are receiving their biggest ever quarterly payment of royalties for the performances of their music in the UK.
PRS, the Performing Right Society, the not-for-profit organisation that collects and pays royalties to songwriters, composers and music publishers is this week making its first quarter royalty distribution for 2008 totaling £110m - the largest ever quarterly royalty distribution from performances and the first time a quarterly distribution has topped £100m.
This record distribution is in part due to the inclusion for the first time of royalties from social networking sites such as YouTube, and also reflects a buoyant live music market in the UK.
£80m has been paid to UK composers, songwriters and publishers, creating a huge boost to the UK creative economy. £30m was paid to overseas writers whose music is popular in the UK.
The process involved in distributing £110m in royalties has also been completely overhauled by PRS in order to handle the huge increase in data volumes that the inclusion of online performances creates.
As well as providing the highest amount of royalties ever, the PRS April distribution has also analysed the highest number of performances ever and the highest number of individual works performed in those performances.
PRS April 2008 royalty distribution - the facts:
16.5 million performances of music analysed
650,000 individual musical works identified as being performed and paid a royalty
70m individual royalty payments
Total distribution April 2008: £110m