LONDON (CelebrityAccess) — The UK Copyright Tribunal, a regulatory body with oversight of copyright issues, has approved the terms of a new live music agreement with performance rights society PRS For Music that will see tariffs rise by 25%.
The key amendments to the tariff include:
The royalty rate for concerts and all other live music events within the scope of Tariff LP will increase from 3% to 4% [or 4.2%*], except for festivals that meet certain criteria.
There will be a new royalty rate within the tariff for festivals that meet certain criteria which recognizes specific considerations for festivals. For these qualifying festivals, the royalty rate will reduce from 3% to 2.5% [or 2.7%*].
The minimum fee charged for events will be waived entirely, providing that music reporting requirements are met.
The incorporation of a direct licensing mechanism, as agreed with the live sector.
*The higher charge in both instances (4.2% and 2.7% respectively) would apply where the licensee elects not to account to PRS in respect of revenue generated from booking fees, administration and service charges.
The changes follow three years of discussion with various major industry bodies representing the live sector including; the Association of Festival Organisers (AFO), Association of Independent Festivals (AIF), British Association of Concert Halls (BACH), Concert Promoters’ Association (CPA), Glastonbury Festivals Limited, Music Venue Trust (MVT), National Arenas Association (NAA), Society of London Theatre (SOLT), and the UK Theatre Association.
“By working together with our colleagues across the live sector we have successfully negotiated an agreed outcome for all parties and I’m very pleased that the Copyright Tribunal has now approved the terms, as agreed between PRS and the Live sector representatives. We have reached an agreement which not only recognises and rewards the huge contribution made by our songwriter and composer members to the live industry but, as importantly, recognises the different needs and strengths of the thousands of venues and events across the UK that are critical to the ongoing sustainability and diversity of the UK live music scene,” said PRS For Music Executive Director of Membership, International & Licensing Paul Clements.
“PRS is currently undergoing its communication period to notify existing Tariff LP licensees of the tribunal order and how the newly updated tariff will affect them. PRS will also continue to work closely with representatives of the live sector to evaluate and assess developments across the live music industry and how they may affect the operation of the new tariff terms,”Phil Bowdery, as Chairman of the Concert Promoters’ Association said in a press statement.