PPL chief executive Peter Leathem has hailed the company’s “improved performance” as it reports a record international collection figure of £49.1 million for 2016.
Up 34% from £36.7m in 2015, the number includes revenue from 33 countries, with collections growing by 18% from a currency neutral perspective.
“A better conversion rate due to the weakening of the pound is a clear factor,” said Leathem, speaking exclusively to Music Week. “But there’s significant growth driven by us acting for more performers and record companies internationally, and improving performance and efficiency.”
Leathem predicted further growth in international collections and described the figures as "bright and positive" for the UK music industry. Read the full interview in the new issue of Music Week, which is available now.