14 December 2006
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 (eg 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.’
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PRESS CONTACT:
Catherine George, 020 7306 4777, press@mcps-prs-alliance.co.uk
NOTE TO EDITOR:
PRS, The Performing Right Society, creating a future for music. As a non-profit making membership society, PRS ensures composers, songwriters and music publishers are paid royalties when their music is used. Music is everywhere, every day: live performance, TV and radio, CDs, DVDs, downloads, streams and everything in between. Royalties create a future for music by supporting creators while they continue to write. www.prs.co.uk
PRS Foundation has already established a dynamic track record of funding a broad range of adventurous activity, from unsigned band showcases to composer residencies and from commissions for new music to experimental live electronica. Foundation support is seen by the music community as an indication of quality and innovation. New music organisations, festivals and performance groups can next apply for funding in February 2007. For further details please visit the website www.prsfoundation.co.uk