Hmmm... there's another angle on this, which we as potential creators of music, for which we'd like to be paid, maybe ought to bear in mind...
You guys do realise that if you're a songwriter, PRS is the body that collects your royalty income for your publisher, and therefore for you, in the UK, don't you?
That is, unless you feel like going to all distributors yourself (radio stations, venues, restaurants, cafes, web sites like YouTube, and so on) to negotiate a separate deal with each one and then extract the money from them personally :lol:
This news report does seem to imply that PRS was still in negotiating mode for a licence fee, and as I read it, Youtube, as part of their own "negotiation", have decided to resort to whipping up public opinion to force PRS, and therefore the owners of songs (people like us and our publishers) to accept a smaller income than PRS was trying to negotiate...
Maybe this is a good thing, maybe this is a bad thing, I don't have enough knowledge or detailed info to go on... but as a creator of music I don't like what it smells like :(