[quote name='BassMunkee' post='511825' date='Jun 12 2009, 08:38 AM']lol.
We actually fit MCPS currently, rather than PRS, which is a pain because MCPS is £50 and PRS is a tenner and looks easier to administer...
I know you don't actually have to sign with MCPS if you're record company is a member, but they're american so I doubt whether they are!
Oh well £50 it is then - you have to spend money to make money, mind you we could join both I suppose - that might be better.
Then again BMI is free!![/quote]
MCPS and PRS deal with different royalty types. MCPS look after your 'mechanical' royalties (i.e. monies from sales of 'product' - cds, dvds etc) whereas PRS look after your 'performing right' royalties (i.e. monies from live performance, airplay on radio, tv etc). You need to belong to both.
BMI may be free but they are based in North America, look after their home talent first and take ages to pass on any royalties from outside the US.
If you are UK based and have most gigs and airplay in the UK and Europe with some further afield, you should join PRS/MCPS. PRS has the lowest admin deduction rate of any royalty organisation AND more 'reciprocal agreements' with other societies than any royalty organisation. This means you will receive more money, more often, from more territories...
I can't see any benefit to joining BMI....