The Mechanical-Copyright Protection Society (MCPS) says it has increased member distributions to £188.4 ($232M) in 2022.
The MCPS collects mechanical royalties on behalf of 34,000 publishers, songwriters, and composers when their music is copied or reproduced. That includes music that is copied and used in physical products like vinyl, CD, or cassette, when their music is streamed or downloaded on DSPs like Spotify, Apple Music, or Amazon, or when their music is synchronized into audio-visual entertainment including TV, films, video games, advertising, or on the radio.
After a period of revenue decline, MCPS says it has bounced back and grown its member distributions for the fourth consecutive year. Last year, MCPS increased its membership by 7.5% with 2,284 members joining the society. The organization was able to maximize payouts through a combination of pioneering strategies. MCPS is focused on streamlining its business practices internationally for faster distributions of royalties to creatives.
“Looking at the wider industry, these landmark returns can be attributed to the popularity of entertainment streaming services, robust distributions from international receipts and heightened consumer demand around physical products (particularly vinyl),” the MCPs report reads.
“MCPS is committed to driving up value, efficiency, and leaving nothing on the table due to publishers, songwriters, and composers,” adds Paul Clements, CEO, MCPS. “We pride ourselves on optimizing 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.”
“We are proud to present our financial results for 2022 and a milestone fourth consecutive year of growth,” says Jackie Alway, OBE, Chair, MCPS. “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.”