PRS for Music had been supporting new music since 1953 by reacting to applications for support as and when they arrived. In the late 60s, PRS for Music was receiving so many applications that it set up a Donations and Awards Committee which, by the late 90’s, was distributing about 1/4 million pounds per year.

In 1999, as part of its drive for greater accuracy and efficiency in royalty distributions to members, the PRS for Music Board charged a taskforce of PRS for Music staff and Board members to determine the best way of consolidating and continuing its support for new music in the UK. Their research resulted in the launch of an independent charitable foundation for new music of any genre: PRS Foundation which now receives £3m per year from PRS for Music.