The Mechanical-Copyright Protection Society (MCPS), a UK organization responsible for collecting royalties for music publishers and songwriters, reported strong financial results for the 2023 fiscal year.
MCPS distributions experienced an impressive growth of 8.5%, reaching £204.3 million (approximately $260.5 million) in 2023. This increase, according to the Society, can be attributed to several factors, including the continued surge in streaming services, the enduring popularity of vinyl records, and an enhanced focus on international royalty collection efforts.
Over the past 5 years, MCPS royalty distributions have increased by 43%. This period also saw a 32% increase in the Society’s membership base, with over 9,000 new publishers, songwriters, and composers joining the organisation.
Commenting on the positive development, MCPS CEO Paul Clements expressed his delight, stating, “There is no better way to celebrate our 100th 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”
However, MCPS Chair Jackie Alway struck a note of caution, highlighting the importance of “preserving the strength of the mechanical copyright” in the years to come. Alway emphasised that such efforts are crucial to ensuring fair renumeration for those who invest their time, talent, and resources in music creation.
