PERFORMING RIGHT SOCIETY,LIMITED

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  Negative shareholders' funds

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors do not believe it is appropriate to prepare downside scenarios, given the nature of the business and its cashflows and distribution policies. Therefore, after making enquiries and considering any subsequent events, the directors have a reasonable expectation that the Group has adequate resources to continue operating for the foreseeable future, being at least 12 months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.”

Group structure

1. PERFORMING RIGHT SOCIETY,LIMITED · parent
   1. Music Copyright (Overseas) Limited 100% · England and Wales · Dormant
   2. Music Copyright Operational Services Limited 100% · England and Wales · Dormant
   3. Musiclicensing.com Limited 100% · England and Wales · Dormant
   4. Musiclicensing.org Limited 100% · England and Wales · Dormant
   5. PRS for Music Limited 100% · England and Wales · Service Company
   6. The Music Alliance Limited 100% · England and Wales · Dormant
   7. GRD Prep Co Limited 100% · England and Wales · Dormant
   8. Imprimatur Services Limited 100% · England and Wales · Dormant
   9. PRS for Music (USA) Limited 100% · England and Wales · Dormant
   10. Rightswatch Limited 100% · England and Wales · Dormant
   11. The MCPS-PRS Alliance Limited 100% · England and Wales · Dormant

Significant events

• “In 2025, PfM again expanded its licensing activities into new and emerging markets, alongside continued investment in its distribution ecosystem to accelerate the frequency and accuracy of payments.”
• “The Company's joint ventures and partnership, producing shared efficiencies and commercial opportunities through combined rights and repertoire, remained central to revenue growth.”
• “Royalties from Public Performance were up 9.1% to £313.4m, with growth resulting from the continued proliferation of large stadium and arena tours, which saw Live revenues of £101.4m; up 13.2% from £89.5m year on year.”
• “For the second-year running, the Company paid out more royalties than ever. Royalties of more than £1,070m were distributed in 2025, a £50m (4.9%) increase on the prior year (£1,020m).”
• “For the fourth year in a row, the Group met its target of maintaining a cost:income ratio below 10%, delivering increased revenues and distributions, as well as investments in new services and products, at just an 8.1% cost:income.”
• “In 2025, the Group realised the initial benefits of its investments to renew the online service offering and website.”
• “The Group agreed 60 major new and improved bespoke broadcast and digital licensing agreements in 2025.”
• “In 2025, online usage accounted for 37% of the total royalties paid out by PRS for Music. The switch to monthly payments follows the introduction in 2024 of a 20% reduction in the administration rate applied to multi territory online collections, meaning the admin rate applied to members' streaming royalites in the year was just 8%.”
• “Throughout 2025, the Group advanced its end-to-end distribution programme which is redesigning the core systems, processes and policies with the objective of accelerating the frequency and speed of payments to rightsholders.”
• “International Copyright Enterprise ("ICE"), the joint venture with STIM and GEMA was the world's first integrated processing hub, and now offers market leading licensing, processing and copyright services for its customers. In 2025, ICE launched its new copyright database 'Cube'.”
• “In 2025, the Group reached agreement to extend the current partnership agreement, which will now run until the end of 2026.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Showing the first 100 officers on file — Companies House returns these 100 per page and this record sits at that limit, so the list (and any former officers) may be incomplete. Full register on Companies House

Filings

12

last 12 months

Capital events

0

last 24 months

Officers appointed

4

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.