MCPS increased its member distributions to £188.4 million in 2022, an increase of £6.7 million (3.7%) compared to 2021. It was the highest distribution since 2007.
The Mechanical-Copyright Protection Society (owned by the Music Publishers Association) collects royalties for 34,000 publishers, songwriters and composers generated through reproduction rights in streaming, downloads, broadcast, international, vinyl/CD/DVD and more. The collections are in addition to PRS For Music’s results.
After a period of revenue decline, MCPS has grown its member distributions for the fourth consecutive year. The results are down to the popularity of both streaming and vinyl, as well as international revenue.
Last year, MCPS increased its membership by 7.5% (2,284 new members). Effective from August 2022, MCPS also reduced its commission rates by 10%. Within the 2022 distribution, MCPS paid to members all excess commissions it generated (after covering its costs to serve), which amounted to £7.2 million.
“MCPS is also focused on streamlining business practices internationally for faster distributions, resulting in more revenue paid to members while striving to leave nothing uncollected that is owed to publishers and creators for the exploitation of their rights,” said a statement.
Paul Clements, CEO, MCPS, said: “MCPS is committed to driving up value, efficiency and leaving nothing on the table due to publishers, songwriters and composers. We pride ourselves on optimising our service through effective and innovative strategies, protecting mechanical rights and delivering maximum return for our members.
“We are very excited about celebrating our centenary next year in 2024, but will of course continue to primarily focus our attention on increasing member distributions further, and at the most cost-effective rates.”
Jackie Alway, chair, MCPS, said: “We are proud to present our financial results for 2022 and a milestone fourth consecutive year of growth. Despite facing recent challenges such as the global pandemic, the united MCPS board and management team have worked tirelessly for our members. As our centenary approaches, we reflect on our achievements and are determined to press hard for further positive innovations for our members.”
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