Music streaming just got a lot cheaper: the Performing Rights Society (PRS) has slashed its royalty charges by more than half to get the likes of Pandora and YouTube back to the table.
YouTube caused a stir earlier this year when it unplugged official music streaming videos from the video sharing site in the UK after a row with the PRS over the cost of streaming an individual track over the net. But the power could be put back on as the PRS has just cut its charges from 0.22p per song down to 0.085p.
The PRS hopes that the cut will “enable the digital market to grow”, and we’re certainly looking forward to what the likes of music streaming service Spotify can do with the extra dough.
YouTube says it welcomes “any efforts to make licensing costs more realistic” but has yet to confirm whether the videos pulled will return under the new pricing scheme, which kicks in from 1 July.
Out TBC | £TBC | PRS (Via BBC News)
