The Beeb are reporting today that as of 1 July 2009, the PRS will drop the rate per song from 0.22p to 0.085p. This should come as great news to not only Pandora and YouTube but also to other burgeoning services that offer streaming for free, and count advertising as their sole method of income - services like Spotify or Last.fm (in the UK at least).
Worryingly, the Beeb reports, "In 2007 [the PRS] published the proposed rates and there were a number of services who objected and so it went to the tribunal, who fixed the rates for a two year period."
It's still fantastic to see that the old school music industry, as late as 2007, was still running scared and playing catch up with the emerging tools and routes to market available via the Internet.
The PRS announcement today further fuels the argument of access versus ownership, as the cost of access continues to decline.
