Earn An Extra £1,476 A Year Without Doing More Work
When starting a creative project, it’s often tricky to find your place on the ‘is this just-for-fun or deadly-serious’ scale. When everything starts tipping onto the more serious side of things it really pays to have certain systems in place from early on. While there’s no huge rush to be professional about certain things, especially when you’re just trying to enjoy yourself - if you’re planning to take things up a notch and turn your music into a way of making money then one thing you really shouldn’t overlook is signing up to PRS (Performing Right Society). PRS could be making your money without you having to do any extra work. PRS along with their partner organisations makes sure that songwriters, composers and performers receive payment for their music appearing in public. Mainstream composers, like Ed Sheeran can expect to make thousands in one day just from having their songs played on radio, TV or even in a pub.
It’s crucial to understand PRS isn’t about making money from you - the artist, as their job is to make sure that you make money, by collecting fees from their customers - the people, organisations, venues and so on who use licensed music in a public domain. PRS is the governing body that makes sure that the artists who create the work get paid for their music. In simple terms, PRS’ involvement in making you money goes as follows:
The composer makes a song > the composer registers the song with PRS > the music is performed or played publicly > PRS collect royalties for performances from customers > PRS give the composer & relevant members royalties.
The main reasons to join PRS would be to get paid for your music when it’s played or performed in public by you or someone else, whether in an open-mic jam night or playing at the O2 Academy. This also holds true if your music it’s streamed on YouTube - and radio performances too. Film & broadcast can earn a larger amount for songwriters or composers, and by joining PRS and registering your music with the organisation means that you’ll get paid for all of the aforementioned recitals, performances, features and appearances. Some of the types of people who would benefit from signing up to PRS would be the following:
An independent songwriter working from his/her bedroom/studio.
A songwriter writing with the aim to sell on the songs to different artists.
A composer working in a semi-professional environment like a school/college.
A small record label with more than 15 songs to their name.
So how much money can you expect to earn from a music performance after becoming a PRS For Music member?
We’ve calculated that an artist who has their music taking off - with their career implementing systems to help them grow can earn an additional £1,476 a year without having to do anything extra other than sign up to PRS For Music.
For more information and a detailed breakdown on how we reached the £1,476 figure above, download our FREE e-book - Be Seen, Be Heard: Making Money As An Independent Artist - downloadable here. We show the independent musician how they can earn up to £24k extra each year as a musician based on first hand knowledge and experience from the pros who have been there and done that. We promise you’ll learn a thing or two and look at your earning capacity as a musician in a new way.