PRS for Music has announced a record-breaking £211m royalty distribution to members, marking the highest ever single payment in its 108-year history.
The organisation, which represents the rights of over 160,000 songwriters, composers, and music publishers in the UK and around the world, pays royalties to its members four times a year - in in April, July, October and December.
It said the October 2022 payout represented an 18% year-on-year increase on October 2021.
“The record payment of royalties by PRS for Music reflects our relentless focus on maximising the value of members’ rights," Andrea Czapary Martin, CEO of PRS for Music, said.
"Ensuring members are paid as quickly and accurately is at the heart of everything we do."
Published: 07-10-2022