Nearly £700k more in royalties to be paid out in October

A change in the admin rate for online royalties means more will be paid to music creators each quarter. 

In June, we announced the rate applied to royalties from Multi-Territory Online Licensing (MTOL), which includes royalties from online streaming services like Spotify and Apple Music, was reducing from 10% to 8%.

This change will see nearly £700k more being paid out to members next month and an annual increase of £6m, totalling £47m by 2030.

Andrea Czapary Martin, CEO of PRS, commented: ‘This is a real, tangible example of how we are constantly working on behalf of members to be competitive and get more money to them quicker than ever before.’

As part of our continued focus on innovation, technology, transparency and efficiency, we will be reviewing of our admin rates across all revenue streams, with a view to reducing and simplifying them across the board.