PRS for Music has launched a new live concert tool for members performing overseas which will show local tariffs across global territories and could potentially help touring acts who write their own material additional royalties with the PRS for Music saying the tool will “help members who perform their music internationally negotiate full and fair royalty settlements.”
Unique to PRS for Music, the live concert tool removes the difficulty of calculating a specific country’s local tariff, which often varies significantly from territory to territory and has historically been a complex area for bands and their tour managers.
The live concert tool features a tariff calculator which can provide advance estimates of royalty value per concert across the globe, as well as ensuring the correct licence tariff rates are applied for major concerts. PRS for Music say the are the first ever collective management organisation to have developed and implemented this technology and has made it accessible to its members upon request.
The tool can also be used for royalty reconciliation post-performance, enabling members to review the progress of a royalty payment, as well as access a summary of the royalties they will receive after the relevant tariff discounts have been ratified. That’s an interesting point, and its interesting timing, as a number of artistes are now challenging those so called tariff ‘discounts’ (which can be up to 50% of the payments that should be made to songwriters whose music is performed in Germany), and a small handful of artistes such as mark Knopfler and the Deftones who compose their own material are now choosing to ‘direct licence’ their music rights, withdrawing the performance right form performance right organisations such as ASCAP, BMI and PRS for Music on a tour by tour basis to maximise their performance right revenues from live events.
Last month PRS announced that income generated from members’ music played abroad saw significant growth in 2016, with £233.7m collected from collection societies overseas.
Maria Forte, a live music industry expert, said: “The app tells you on a territory by territory basis what the published tariff should be, what the applicable discounts might be and, if you plug box office figures in, what the licence fee figure should be on the settlement sheet.”
This is one of several online tools PRS for Music is launching to improve its digital offering to its 125,000 members and follows on from the organisation’s recent rollout of a new online tool for reporting live performances.
To access the new Live Concert Service platform, performing members should contact firstname.lastname@example.org