More than two years after they were first passed by the European Union, new regulations governing European collection societies and multi-territory licensing come into force this Sunday (Apr. 10), with rights holders and digital services among the intended beneficiaries.
Devised and implemented by the European Commission as part of its “Digital Agenda for Europe” and “Europe 2020 Strategy,” the Collective Rights Management Directive is designed to help make sure royalty payments are timely and accurate while significantly improving the transparency and governance of European collective management organizations (CMOs), otherwise known as collection societies.
The two main collecting societies in the United Kingdom are PRS for Music, which looks after the rights of over 115,000 songwriters, composers and music publishers, and PPL, which works on behalf of record companies and performers.
Together, they have a combined turnover of over £1 billion ($1.4 billion) a year, according to the British government, and around 500,000 members.
Source: Billboard