PRS for Music and PPL confirm plan to create new joint venture for public performance licensing
PRS for Music and PPL have today confirmed that, following a strategic review commenced in 2015, the two companies plan to create a joint venture. The new company, jointly and equally owned by PPL and PRS for Music, would focus on serving all PPL and PRS for Music UK public performance licensing customers.
This will further streamline the experience for customers obtaining public performance licences, allowing them to secure a joint PPL and PRS for Music licence with a single phone call or a few clicks on the web, paid for with a single invoice.
Over the coming months, PRS for Music and PPL will be undertaking the necessary preparatory work for the joint venture, including engagement with regulators and other key stakeholders.
It is anticipated that the new company would start licensing in 2017, followed by a 12-month period during which the full transition of public performance licensing would be completed. It is likely that the new joint venture will be located in a UK city outside the M25.
Robert Ashcroft, Chief Executive, PRS for Music, said, “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.”
Peter Leathem, CEO, PPL commented, “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.”