The board of the Performing Rights Society has announced it will commit £1.25 million to its PRS Foundation For New Music each year for the next three years.
Confirming that commitment, PRS Chairman Ellis Rich told CMU: "The PRS Board is delighted to provide this donation to the PRS Foundation for the next three years. We are equally delighted that the Foundation intends to source additional partnership funding from other organisations during this time. This is great news for music and for anyone who has ever wanted to make music".
Welcoming the commitment, PRS Foundation Director Charlotte Ray added: "The PRS Foundation is extremely grateful to the Board and membership of PRS for this commitment to and endorsement of its work. The Foundation has become a crucial focal point for music creators of all genres, and the PRS Board and members can be proud of its invigorating work on behalf of new live music in the UK".