PRS for Music and PPL are to create a joint venture business to provide one point of contact for all UK public performance licensing customers.
After engaging with regulators and stakeholders, it is expected the new business will start licensing in 2017, allowing customers to obtain a public performance license with a single invoice.
The new company will be equally owned by PPL and PRS for Music. It is likely to be located in a UK city outside the M25.
PRS for Music chief executive Robert Ashcroft said: "Creating a single point of contact for our UK public performance customers would allow us to significantly simplify music licensing for UK businesses. It is in our members' and customers' interests to ensure that our licensing is ever more accurate and efficient. A joint venture between our organisations would be a landmark event for both societies."
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