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PRS boss upbeat at AGM
By CMU Editorial | Published on Tuesday 31 May 2011
It was the Annual General Meeting of PRS For Music last week, and CEO Robert Ashcroft was upbeat, despite us all knowing the collecting society’s overall revenue was down 1% in 2010. That was due in part, Ashcroft said, to the unusual boom that occurred during the record breaking year that was 2009. Looking forward, he said emerging markets like China and India allowed the potential for future growth. As for the monies distributed to PRS members, Ashcroft insisted that with a 10.4% administration rate, PRS For Music “is one of the most efficient collecting societies in the world”.
The guest speaker was John Whittingdale, the MP who heads up parliament’s Culture, Media & Sport select committee. He praised both the PRS and the wider music business for their engagement in the government’s recent Hargreaves Review of copyright law, in particular noting the proposal in the PRS’s submission encouraging search engines to incorporate a traffic light system, whereby websites where there are copyright concerns are marked with a yellow or red dot.
