Welcome!

Login

Subscribe

PPL income up 11% in 2012

Paul Williams
PPL

PPL revenue rose by 11% to £170.8m last year with income from public performance and overseas expanding even faster.

The UK music licensing company reports the new record annual figures include money coming from public performance up 18% to £64.8m, broadcasting and online bringing in an extra 5% to £69.4m and international earnings up 13% to £36.6m. The broadcast rise was helped by a new deal with BBC covering radio and TV and running until 2017.

The amount of money distributed to PPL's record company and performer members went up by 12% to £146.6m, helped by its cost to income ratio being cut over the year from 14.9% of money collected to 14.4%.

PPL CEO Peter Leathem said: “I am delighted to be able to report strong growth across all of our three main income streams as a result of the continued good progress PPL is making as a company as well as the astonishing success and popularity of UK music domestically and around the world. The growth in our International collections was clearly supported by the UK continuing to punch above its weight on the global stage.

“We are very aware of, and sensitive to, the ongoing difficult economic environment as it clearly affects not just our members, the vast majority of whom are small businesses and sole traders, but also our licensees as well. The significant growth of public performance income from businesses such as bars, shops, and offices was particularly pleasing and was largely achieved through a continued drive to raise awareness of licensing requirements with new local campaigns across the UK as well as improvements to internal processes and systems which continued to lead to more effective customer service delivery.” 

PPL chairman Fran Nevrkla said the 2012 results gave him a double pleasure.

"They are strong by any measure and demonstrate the effectiveness of the management succession process. My congratulations, in his first year as CEO, to Peter Leathem and the rest of the team," he added.

 

 

Advertisement

Tags: ppl, Fran Nevrkla, Peter Leathem

Not a subscriber?

 Sign up today, registration is easy!