PRS For Music has launched a new tool aimed at helping rights holders better manage their royalties earned from live performances.
The digital tool is designed to allow PRS songwriter, composer and publisher members to report setlists or programmes from live performances via a tablet or smartphone. Members simply need to input when, where and what was played, offering both them and their representatives greater control over their live performance royalties.
In its first 24 hours of activation, over 1,000 setlists and programmes, and 2.5 million seconds of music were reported to PRS from live performances in 23 countries.
Prior to launch, the tool was tested with 4,000 members, revealing that performers were playing on average of 12 tracks in their live sets, with 10%, playing over 20 tracks. During the test phase, 90% of performances were reported to have taken place in the UK, and of those that took place overseas the US, Germany and Republic of Ireland were the most popular destinations.
Karen Buse, executive director of membership and international, PRS For Music, said: “We worked closely with our members from the outset, listening to their feedback and what they really wanted. We believe the convenience and simplicity of this new online tool is already empowering them to report set lists more frequently in a way that works for them. This gives us the ability to collect and distribute more revenue to the right members.”
PRS For Music says that this is just the first of several new online tools it will be launching throughout the year to improve its digital offering to its 124,000 members.