The U.K.'s Featured Artist Coalition (FAC) will hold its inaugural meeting in London today (March 11) and the current impasse between YouTube and PRS for Music over royalty rates is likely to be a major topic of discussion.

The FAC was formed to give artists a collective voice to campaign for effective laws and regulations, as well as transparent and equitable business practices.

With "fair remuneration in exchange for widespread access" as one of the FAC'S mission statements, the impact on artists of the removal of premium music videos for YouTube U.K. users, which began March 9, is at the top of the digital agenda for the FAC.

"YouTube's row with the PRS is the most recent example of just how fast the music industry is changing," said Blur drummer David Rowntree in a statement. "There has never been a greater need for the collective voice of featured artists, whose music generates 95% of revenue in the industry, to be properly heard."

"The digital revolution has swept away the old music business of the 1960s, and changed forever the relationship between artists and fans. For companies who made their living sitting between the two, these are increasingly hard times, but for music makers and music fans this should be a fantastic opportunity," he added.

"As this revolution gathers pace featured artists must seize the initiative. We are looking to forge a new deal, built on fairness, with our fans, the music industry and governments. To achieve this, we must own our future, take real control of our rights and genuinely work together."

Rowntree is among the FAC's first board of directors along with Soul II Soul's Jazzie B, Billy Bragg, Radiohead's Ed O'Brien, Kate Nash, Marillion's Mark Kelly and rapper Master Shortie. Artists expected to attend the meeting at club venue Heaven at 4.30pm GMT include David Gray, Annie Lennox, Nick Mason, KT Tunstall and Robbie Williams.