Reshuffle between PRS and MCPS
News: 24th April 2013 by Louise Dodgson under Finance, Law & Music Business, Music Publishing
A new structure is underway between PRS which handles the collection of performing royalties (royalties payabale to a songwriter/composer when their song is performed in public) and MCPS, which handles the collection of mechanical royalties (royalties payable to a songwriter/composer on the reproduction of a recorded track).
Working in alliance since 1997, MCPS will now be selling its shares to PRS and also handing over management of mechanical royalties to PRS. So effectively, MCPS will be a client of PRS For Music from now on, rather than a separate collection body. This new approach to working together should result in a more efficient, cost saving and streamlined business. Read more about the changes below.
mcps, prs for music, royalty collections, songwriters, songwriting, collection society, mechanical royalties, performance royalties