PRS for Music - the rights management body that collects royalties on behalf of its members - has introduced a new lower tariff for festivals of 2.5% which meet certain criteria, reduced from the 3% of gross box office receipts it's been since 1988. The concerts tariff is to rise to 4%. These come into force on Monday 11th June 2018.
This follows a consultation with major industry bodies that started in 2015 and finished last summer, before being approved by the Copyright Tribunal. These included 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.
PRS's executive director of membership, international and licensing Paul Clements said: “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."