PPL, the UK’s collective administration group (CMO) for performers and recording rightsholders, recorded the best income in its 90-year historical past in 2024.
Income for the 12 months rose 6% year-on-year to GBP £301 million (USD $384.4 million on the common trade charge for 2024) from the earlier file of £283.5 million ($352.6 million) set in 2023.
“2024 was one other sturdy 12 months for PPL as we grew licensing income throughout the board. These landmark collections in our ninetieth 12 months are a results of our group’s constant efforts to make sure our members’ expertise and funding is pretty rewarded when their music is broadcast or performed in public areas,” PPL CEO Peter Leathem OBE mentioned in a launch on Wednesday (March 26).
In 2024, PPL distributed funds to over 172,000 performers and recording rightsholders, with 19,300 receiving royalties by way of PPL or not directly by way of different CMOs for the primary time.
Within the fourth quarter alone, PPL paid out £45.3 million ($57.9 million) to over 137,000 performers and recording rightsholders, the CMO mentioned in an earlier announcement.
PPL mentioned the expansion in income got here as “UK companies proceed to put money into music and worldwide collections return to progress.”
Income from public performances, which cowl music licensing in venues like outlets, bars, eating places, gyms, workplaces, and warehouses, grew 9% YoY to £121.4 million ($155 million). PPL mentioned the rise displays the licensing of greater than 400,000 venues by way of Leicester-based PPL PRS Ltd, a three way partnership between the group and PRS for Music, which represents composers, songwriters and music publishers.
PPL additionally attributed the expansion in public efficiency income to companies investing in music to assist enhance income and improve buyer and worker expertise. These companies embrace Amazon, B&Q, British Airways, DHL, Marks & Spencer, Oliver Bonas, Sofology and Travelodge, it mentioned.
The group famous sector-specific progress throughout varied industries. Current surveys by PPL PRS discovered that 82.3% of staff favor workplaces that play music, and over 70% report feeling extra engaged in companies with background music.
The health sector noticed an 8% income enhance amid 4.1% YoY progress within the UK’s registered gymnasium members to 10.7 million in 2024. Workplace and manufacturing unit music licensing additionally grew 8%. Moreover, the revised Specifically Featured Leisure tariff, overlaying recorded music in DJ units and leisure venues, continued to drive elevated returns for performers and recording rightsholders, PPL famous.
“An increasing number of performers and recording rightsholders are selecting PPL for worldwide collections, as we proceed to supply optimistic outcomes by way of our collaborative method with companions around the globe.”
Peter Leathem OBE, PPL
In the meantime, worldwide income jumped 7% YoY in 2024 to £81 million ($103.4 million). PPL says it has expanded its international attain with 113 licensing agreements throughout 52 nations that cowl greater than 95% of the neighboring rights market by worth.
The group added first-time royalty collections from rising markets like India and Azerbaijan, and resolved long-standing assortment disputes in markets resembling Canada and Sweden.
PPL added it signed “a whole bunch” of offers in 2024 with established and rising artists together with Ice Spice, Kenya Grace, Lewis Capaldi, The Final Dinner Social gathering, Yoko Ono and the property of John Lennon.
“An increasing number of performers and recording rightsholders are selecting PPL for worldwide collections, as we proceed to supply optimistic outcomes by way of our collaborative method with companions around the globe, serving to velocity up collections and funds to our members,” Leathem mentioned.
Elsewhere, broadcast and on-line licensing income grew 2% YoY to £98.6 million ($125.9 million). The phase included licensing for linear and on demand TV companies, and radio and on-line stations broadcasting within the UK.
In 2024, PPL signed a brand new multi-territory webcast settlement with Deezer for the multi-channel Sonos Radio service overlaying the UK and 6 different European territories. PPL mentioned it now licenses over 1,200 on-line webcast companies.
Additionally final 12 months, PPL launched an initiative known as PPL Giving, earmarking £1 million yearly to help and put money into the way forward for music within the UK.
Talking to MBW in December, Leathem mentioned, “PPL’s place within the music trade has reworked massively. That’s an indicator of issues moving into a great route; we’ve grow to be a well-respected, well-liked group that’s central to the music trade.”
Music Enterprise Worldwide
