It has been confirmed on February 2nd that PRS for Music and PPL will come together on a joint venture to create a company, primarily focused on serving all PPL and PRS for Music UK public performance licensing customers.
The strategy for this new venture had been finalised in 2015 and has now been confirmed, however the new company is expected to start licensing in 2017. PRS for Music and PPL will be undertaking the necessary preparatory work for the joint venture over the next coming months.
“Creating a single point of contact for our UK public performance customers would allow us to significantly simplify music licensing for UK businesses. It is in our members’ and customers’ interests to ensure that our licensing is ever more accurate and efficient. A joint venture between our organisations would be a landmark event for both societies.” – Robert Ashcroft (Chief Executive, PRS for Music)
“Both our organisations firmly believe that the proposed joint venture would be a very positive development for both our customers and our members, building on the successful joint licensing solutions and other joint working initiatives that PPL and PRS for Music have delivered over the last few years.” – Peter Leathem (CEO, PPL)