The Performing Rights Society (PRS) has cut charges for streaming music over the internet, which may help end a...
row with YouTube.
UK YouTube users were barred from viewing mainstream music videos in March when the video sharing site failed to reach agreement with the PRS on licensing fees.
At the time, Patrick Walker, EMEA director of video partnerships at YouTube owner Google, said the company would block music videos in the UK until mutually acceptable terms were reached.
From July, companies will pay 0.085p for each track they stream instead of 0.22p for the next three years, said the PRS, which collects royalties for composers and musicians.
However, the headline royalty rate will increase from 8% to 10.5% of revenue.
Andrew Shaw, managing director for broadcast and online at PRS, said, "We believe these new streaming rates will stimulate growth in the digital music market and will benefit our licensees and our members."