PPL announces record-breaking financial year

PPL has announced a record-breaking financial year in 2016, with total annual revenue breaking the £200 million mark for the first time.

In total, £212.1 million ($273.6 million) was collected and the collective management organisation (CMO) delivered growth across each of its three primary revenue streams – public performance and dubbing, broadcast, and international.  Collections were up by £15.1 million (8 per cent) on 2015.

PPL’s international collections business saw the most significant growth with £48.3 million being collected in 2016 compared to £36.7 million in 2015 – a year-on-year increase of 32 per cent (16 per cent on a currency neutral basis).  This revenue results from the use of PPL’s members’ repertoire in other countries around the world.  PPL now has 83 international agreements in place with overseas CMOs to collect this revenue across 39 countries and significant collections in 2016 were made from the USA, France and Germany.

Broadcast revenue, from the licensing of recorded music on TV and radio, grew by 2 per cent to £77.4 million.  Collections from public performance and dubbing also increased by 2 per cent to £86.4 million. Key factors for this increase included maintaining strong relationships with existing licensees and further increases in market penetration.

In line with record annual revenue for 2016, PPL also achieved record net distributable revenue after all costs and deductions of £178.9m. 

83,102 performers and 9,589 recording rights holders received a PPL payment in 2016 – an increase of 30 per cent compared to the previous year.  This was achieved whilst maintaining a similar cost-to-income ratio of 14.8 per cent.  The slight increase of 0.6 per cent can be largely attributed to investment in the impending joint venture for public performance licensing with PRS for Music.

The 2016 financial results will be presented at the Annual General Meeting at Kings Place on Thursday 8th June.

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.”