We7: New PRS rates are a “significant milestone”

Earlier today, PRS for Music announced its new rates for on-demand streaming music services in the UK, dropping the minima per-stream payment to 0.085p while upping the headline royalty rate to 10.5%. We7 has become the first streaming music service to give a response, with CEO Steve Purdham pleased at PRS for Music's announcement.”On first look the announcement is very positive and could be a significant milestone in the future of British digital music distribution,” he tells Music Ally. “All prior feedback were that the online rates, especially in streaming for on-demand and Internet radio, were wrong and the minima's where the key issue and a barrier to the evolution of new digital models. This announcement goes a long way to address that issue.”He accepts that not everyone will be dancing in the streets at the new rates, however. “I am sure for some people it will not be far enough but it is a big start and for me its a good indication that the PRS for Music is serious about trying to find ways to let new digital models evolve.”Stand by for more reactions as we get them.