PPL POSTS RECORD REVENUE  

U.K. music licensing company PPL delivered record revenue last year, generating £272.6m, a year-over-year increase of 7.8%.

It’s the highest figure in the enterprise’s 89-year history. The number was boosted by the bounce back of revenue from the use of recorded music in public places, which grew 39.8% to £100.8m (a figure that’s also up from the pre-pandemic collection of £99.6m).

Revenue from the licensing of recorded music for radio, TV and online uses grew 8.4% to £94m. International revenue dipped 17% to £77.8m; PPL says this is due to the proportion of income collected from past periods declining as a result of collective management organizations' speeding up of distribution payouts.

More than 165k musicians and rightsholders received royalties from PPL last year, up 12.6% over 2021.

PPL Chief Executive Peter Leathem called the results “a testament to the quality of the team, the technology and our data," adding, "But that is nothing without the creativity and hard work of our members, who create the millions of high-quality recordings being enjoyed by fans every day.”