UK musican Bobby Valentino has gone public with allegations that UK collection society PRS for Music, is providing incorrect accounting of collected funds. Use of their figures may have also allowed publishing companies to rip him off, alleges Valentino. This morning PRS responded:
"Ten years ago Bobby Valentino was awarded a share in the song “Young at Heart” and as such PRS for Music paid royalties to Valentino in line with that share. The song had risen to prominence following a Volkswagen Golf commercial of 1993.
Following allegations by Mr Valentino an independent accountant assessed the case on two separate occasions and concluded the correct share had been paid to all parties (including other writers and publishers) who had shares in the work and there was absolutely no wrong doing on the part of PRS for Music.
As such all Mr Valentino’s historic allegations are refuted and the case is considered closed."