Goldilox
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Thanks for that.
I think what annoys me is that what we listen to isn't what most people listen to, so if royalties are distributed based on a sample I'm more than likely paying artists I hate while those I like get nothing. Plus, like you say, an awful lot goes to the record companies anyway not the artists.
I don't want to sound too down on the whole thing - I think the system as a whole works about as well as you could expect & those who administer it are aware of it's shortcomings and are keen for smaller scale musicians like myself to tell them when & where we know our music is being used so that they can pay out accordingly.
It's also improved greatly with technology & most local radio stations of the Stafford FM scale now have software that records & submits the music played to PRS so the royalties paid are an exact reflection of what goes on air.
As for record companies & publishers, they have a role to play in getting the music out to a mainstream audience & I think most musicians who sign with them make the educated decision that a smaller percentage of a much larger pie is a worthwhile trade-off.