New PRS live performance licence gets Copyright Tribunal approval

PRS For Music is reported to have received Copyright Tribunal approval of new terms for one of its main live performance licences, what the rights body calls its ‘Tariff LP’ licence. Concert promoters need public performance licences from whoever owns the copyright in any songs performed at the shows they promote.

Terms of the agreed new tariff  submitted to and approved by the Copyright Tribunal will become effective from Monday 11 June 2018.

The key amendments to the tariff include:

• The royalty rate for concerts and all other live music events within the scope of Tariff LP, will increase from 3% to 4% [or 4.2%*], except for festivals that meet certain criteria, as below.
• There will be a new royalty rate within the tariff for festivals that meet certain criteria which recognises specific considerations for festivals. For these qualifying festivals the royalty rate will reduce from 3% to 2.5% [or 2.7%*].
• The minimum fee charged for events will be waived entirely, providing that music reporting requirements are met.
• The incorporation of a direct licensing mechanism, as agreed with the live sector.

*The higher charge in both instances (4.2% and 2.7% respectively) would apply where the licensee elects not to account to PRS in respect of revenue generated from booking fees, administration and service charges.

Source: https://www.prsformusic.com/press/2018/industry-reaches-agreement-on-new-live-music-licensing-terms