PRS for Music has announced that from 1 July, its headline royalty rate for on-demand streaming music services will increase from 8% to 10.5%, but that the per-stream minimum will come down from 0.22p to 0.085p.Similar changes are being made to the rates for premium interactive webcasting services and pure webcasting services, and the new rates will apply for three years. “We believe that these new streaming rates will stimulate growth in the digital music market and will benefit our licensees and our members,” says Andrew Shaw, managing director of broadcast and online.”This is a good deal for music creators and for music lovers.” We’ll have more reaction from licensees throughout today on the blog, but the full announcement is published below.PRS for Music Launches New Rates for Music StreamingBetter deal for digital services and safeguards for music creators PRS for Music today announced the rates for streaming services for its new Online Music Licences which comes into effect on July 1st. After an extensive seven month consultation period with key stakeholders, major & independent music publishers and the wider industry, the new rates were approved by the PRS for Music board on May 20th. For on demand streaming services, the headline royalty rate will increase from 8% to 10.5% of revenue in exchange for the per stream minimum being reduced from 0.22p (
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