Three Percent Out Of Date
The Performing Rights Society has begun talks with concert promoters and festival organisers to try to change the way songwriters and composers are paid from live events.
Songwriters are calling for a greater share of revenues from the booming live music industry, while the PRS reportedly says the payment system – of composers sharing from a pool raised by charging 3 percent of the ticket price – is out of date, according to the Daily Telegraph.
The PRS, which collects royalties on behalf of songwriters, says that the creators of music played at gigs and festivals have seen their earnings from that source drop 10 percent over the past five years.
According to the Telegraph, the total value of the live sector has risen more than 35 percent over that period, largely because of increased ancillary revenues including merchandise, food and drink, parking and sponsorship.