Original article from: http://www.m-magazine.co.uk/news/ppl-announces-record-royalties-2016/
PPL, the UK collecting society for performers and record companies, has announced it broke the £200m revenue threshold for the first time in 2016.
In total, it collected £212.1m, with growth across each of its three primary revenue streams – public performance and dubbing, broadcast, and international. This marks an eight percent (£15.1m) increase on 2015 figures.
In line with record annual revenue for 2016, PPL also achieved record net distributable revenue of £178.9m after all costs and deductions.
PPL’s international collections business saw the most significant growth with £48.3m collected, compared to £36.7 million in 2015 – a year-on-year increase of 32 per cent, or 16 percent on a currency neutral basis.
The organisation now has 83 international agreements in place with overseas societies, and recorded significant collections from the US, France and Germany last year.
Broadcast revenue, from the licensing of recorded music on TV and radio, grew by two percent to £77.4m.
Collections from public performance and dubbing also increased by two percent to £86.4m.
Peter Leathem, chief executive at PPL, said: ‘We are delighted to have had another year of record growth and to have been able to pay out more money to our members than ever before. This has been made possible by the dedication and commitment that our staff show across all areas of the business and of course, the talents of our members.
I am very pleased that we remain on course to continue delivering revenue growth, increased efficiency, outstanding customer service for our members and the highest level of customer satisfaction from our licensees.’
The 2016 financial results will be presented at the society’s Annual General Meeting at Kings Place, London, on 8 June.
The post PPL announces record royalties for 2016 appeared first on M magazine: PRS for Music online magazine.