New Music Receives £3.75 Million Funding Boost From PRS
The PRS Board has made a significant long-term commitment to PRS Foundation for New Music by confirming its donation of £1.25m each year for the next three years.
The PRS Foundation provides essential core support for creators, performers and producers of new music throughout the UK.
Since its launch as a registered charity in 2000, the Foundation has provided £9.5m worth of support to new music projects and has established itself as the largest single provider of funding solely for new music in the UK.
Ellis Rich, PRS chairman, said: "The PRS Board is delighted to provide this donation to the PRS Foundation for the next three years. We are equally delighted that the Foundation intends to source additional partnership funding from other organisations during this time. This is great news for music and for anyone who has ever wanted to make music."
This commitment enables the Foundation to stimulate and support new music of all genres through to the end of 2009. The donation is made from PRS non-licensed revenue (e.g., bank interest on income received prior to its payment as royalties to members).
Charlotte Ray, director of the Foundation, said: "The PRS Foundation is extremely grateful to the Board and membership of PRS for this commitment to and endorsement of its work. The Foundation has become a crucial focal point for music creators of all genres, and the PRS Board and members can be proud of its invigorating work on behalf of new live music in the UK."
Related News from Mi2N:
» New Music Receives £3.75 Million Funding Boost From PRS
» Women Make An Impact On The 2018 MPG Awards Shortlist
» Two-Sides of Copyright Finance: Sound Royalties & Kobalt
» Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes
» Europe's Digital Music Leaders Form Alliance
» Deezer Becomes Miami Dolphins' Official Music Partner
News Beat Directory
» [2017-11-13] Women Make An Impact On The 2018 MPG Awards Shortlist; Nearly A Quarter Of Those Named This Year Are Female, Proving That Music Production Is No Longer A Bastion For The Boys
» [2017-11-13] The Nashville Musicians Sound Healthcare Plan Rolls Out; Sound Healthcare & Financial Announced The Formation Of A True Group Health Insurance Policy Plan For Musicians And Industry Professionals
» [2017-11-09] Streaming & Listening Diversity - Spotify Case Study; Will Artists Have An Easier Time Finding An Audience, Or Will Streaming Focus Global Attention On A Small Number Of Stars?
» [2017-11-09] Two-Sides Of Copyright Finance: Sound Royalties & Kobalt; Sound Royalties Unearths Millions In Undistributed Royalties While Kobalt Launches Fund To Invest In Music Copyright
» [2017-11-08] Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes; ROLI Chief Creative Officer, Live Nation Sweden Managing Directors, Music Glue Global Head Of Business Development, BBR Music Group VP Of International, Warner/Chappell Music Spain Managing Director And Blue Night Director Of Music Clearance
» [2017-11-08] Europe's Digital Music Leaders Form Alliance; European Digital Music Companies Launch Of Digital Music Europe
» [2017-11-05] Pandora Subscriber Base Grows To Over 5 Million; Pandora Premium Paid Subscribers Cross The 1 Million Milestone In October 2017
» [2017-11-05] Hybrid Studios Announces Online Mastering Services; Engineers Billy Klein And Brian Frederick Spearhead New Online Mastering Effort Through OC Studio
» [2017-11-05] Music Industry Betting On VR & AR For New Revenue; The Music Industry Is Making An Early Bet On VR & AR To Create New Revenue Streams Across All Their Lines Of Business
» [2017-11-04] Sound Royalties Unearths Millions In Undistributed Royalties; Nearly $14 Million In Undistributed Royalties Has Been Found By Music-focused Finance Firm Sound Royalties
» [2017-11-02] MusicDish*China October China Label Music Releases And Charts; Several Tracks From October Releases Have Charted On Chinese Music Portal Kanjian ING Top 10 Weekly Chart
» [2017-11-01] Deezer Becomes Miami Dolphins' Official Music Partner; Deezer's Flirtation With The Sports World Appears To Have Just Begun
follow MusicDish on