MCPS distributions up 8.5% to £204.3 million in 2023

22 May 2024 - Press release

The UK collection society for mechanical rights has now distributed over £4 billion to publishers, songwriters and composers this century

 

MCPS, the Mechanical-Copyright Protection Society, the organisation that represents the mechanical rights of music publishers, songwriters and composers in the UK, announces that it paid out £204.3 million of mechanical royalties in 2023. This represents an 8.5% uplift (£15.9 million) on 2022 and a 43% increase in annual distributions over the last 5 years, driven by the growth of streaming, the continued popularity of vinyl and increasing international royalty collections.

MCPS, which this year celebrates its 100^th anniversary, represents and protects the mechanical copyrights of over 37,000 publisher, songwriter and composer members. It ensures its members are remunerated when their works are copied or reproduced in physical products, streaming, digital downloads and broadcast, all of which carry a mechanical royalty for the underlying song or composition.

In 2023, the organisation drove further efficiencies, delivering a blended reduced commission rate of 6.5%, allowing for more monies to be distributed to its members. MCPS paid to its members all excess commissions it generated (after covering its overheads), amounting to £7.2 million during the year. This value is distributed with line-by-line information for convenience and accuracy in onward distributions.

Over the last 5 years, MCPS has added over 9,000 new members, reflecting 32% growth. As the company celebrates its 100^th anniversary this year, it has now distributed over £4 billion of mechanical royalties to its members in the 21^st century.

Paul Clements, CEO, MCPS & MPA Group said: "There is no better way to celebrate our 100^th anniversary than with our biggest distribution in almost 20 years and by surpassing £4 billion in total payments to publishers, songwriters and composers this century. These numbers are testament to the tireless work of our team as we grow our international reach, enhance our processes and take advantage of new licensing opportunities on behalf of our members. As we look to the future, it is more important than ever for us to continue to work closely with our members, to protect their mechanical rights and ensure our members are remunerated efficiently and accurately." 

Jackie Alway OBE, Chair, MCPS added: "For over a century now MCPS has been providing invaluable income for music publishers, songwriters and composers. Our 2023 results are proof of our ongoing importance in the digital era, marking five consecutive years of growing revenues for our members. Preserving the strength of the mechanical copyright will be vital in the coming years to help ensure those who invest their time, talent, and money into creating music are fairly remunerated."