UK businesses could be overspending on their PRS for Music licences by as much as £24m per year, according to My Music Solutions (MMS).
MMS, the music licence renewal specialist, says the majority of PRS licences appear to have rarely been calculated correctly, yet most businesses simply pay their renewal demands without querying them properly.
In less than two years, MMS has saved in excess of £770,000 for pubs, bars, clubs, and hotels by taking control of their PRS for Music and PPL licence renewals, and submitting them accurately. MMS says it has reduced businesses’ licence renewal fees by an average of 15 per cent – which represents a significant proportion of the £160m turnover of the PRS for Musics' Public Performance Sales division. And that's before you even look at PPL...
Rob Gilbert, Managing Director of MMS, leads a team with over 30 years’ experience working in the sector. He said:
“We absolutely believe in the principle of music licensing, and the work that the performing rights organisations do to help artists be paid what they are due.
However, as revenue driven organisations with limited resources, renewal fees are based on significant amounts of guesswork, and can be easily over-estimated. It could mean vast differentials in what their licensees pay, and what they should, which is vitally important, no matter how large or successful they are.
Nobody, whether they operate a single premises or a national chain, has time to check these numbers are accurate.
The potential result is years’ worth of overpayments and a general acceptance that these renewals cannot be challenged.
At MMS, we will gladly fulfil that role. We do all the leg work, challenge the renewals and provide an accurate submission based on our comprehensive understanding of the way licensing works.”
MMS are incredibly confident in the above, and as such work on a no-saving, no-fee basis – if they can't save a business money on its PRS or PPL renewal in the first year, no fee will be charged.
Visit their website - www.mymusicsolutions.com or call 0191 260 0708.