PRS for Music is home to the world's best music writers, composers and publishers. Formed as The MCPS-PRS Alliance in 1997 with the PRS for Music brand adopted in 2009, the organisation brings together two royalty collection societies; MCPS and PRS. We exist to collect and pay royalties to our members when their music is exploited in one of a number of ways – when it is recorded onto any format and distributed to the public, performed or played in public, broadcast or made publicly available online. PRS for Music is one of the world’s most efficient combined rights collecting operations. Offering its members more money, more often, at less cost and its customers the most efficient means by which they can use music.
Where does the money come from?
Money is due to PRS for Music for any public performance of music, whether live or recorded, and from radio and television broadcasts and online.

MCPS generates money through licence fees from the recording of our members’ music on many different formats, including CDs and DVDs.

Where does the money go?
PRS for Music and MCPS pay money collected to their writer, composer and music publisher members. Both organisations are ‘not for profit’ and only deduct a small administration/commission fee to cover operating costs.

MCPS’ activities are governed by a Board of 18 Directors appointed by the MPA comprising 12 Publishers, 4 full writer members of MCPS, The Chief Executive, the Managing Director and two Executive Directors, MCPS. The Chairman is elected from among the Directors.

REF: google/mcps website. date accessed 16/10/09.

http://www.prsformusic.com/aboutus/essentialinformation/mcpsboard/Pages/MCPSboard.aspx