Monday, 3 August 2015

PRS salary hike prompts comment

MBW say that according to the PRS financial report sent to members, the UK collection society spent £35.7m on ‘people’ in the 12 months – an 11.2% increase  on salaries and benefits compared to 2013 and amounting through 47% of PRS’s total expenditure in 2014 despite payments to members and publishers decreasing. Employing 615 people the expenditure on the average annual wage (including social security, pensions and benefits) of a PRS For Music employee in 2014 was £56,282. Directors’ remuneration amounted to £996,000 in the year in basic terms – up 12% from the £888,000 paid out in 2013. The money was divided between nine serving directors during the 12 months. The majority of this remuneration (77%) was taken home by PRS For Music CEO Robert Ashcroft, who received a £765,000 basic salary – a £15k annual increase compared to 2013. PRS For Music Chairman, Peter Bamford, took home £106,250 of the remaining Director’s pay

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