PPL reports 2021 revenues of £252.8 million

UK music licensing company PPL has reported revenue of £252.8 million from 2021, with a 12% increase on the previous year. The company’s international and broadcast and online licensing revenues delivered record annual amounts.

These results mark the company’s second highest annual revenue total (the highest was £271.8 million reported in 2019). PPL’s 2021 international revenues are £94 million, up by £8.1 million on 2020. PPL’s broadcast and online licensing revenue increased by £4.4 million to a record annual total of £86.7 million and revenue from the playing of music in public venues grew by £14.6 million to £72.1 million.

Peter Leathem, PPL’s chief executive officer, this year celebrates a decade in the role. He said: ‘PPL now pays more than three times as many performers and recording rightsholders than ten years ago when I became CEO and is collecting nearly double the revenue.’

Once money has been collected, PPL calculates how much each member has earned and, after tax and running costs have been deducted, distributes the money to its members as royalties. PPL distributions decreased by £31.5 million in 2021 due to the pandemic’s impact on collections for the previous year.

In 2021 PPL established new deals with collective management organisations (CMOs) in India and Indonesia, and some CMOs brought forward payments to support performers and rightsholders impacted by Covid-19. PPL also licensed new online services and platforms, including Mixcloud Live and Sonos Radio.

Revenues from the playing of music in public venues are yet to return to their pre-pandemic level of £99.6 million. PPL decided not to charge fees for periods when premises were closed, and temporarily adjusted policies to allow for deferred payments and the suspension of charges for late payments.

Founded in 1934, PPL is the UK music industry’s collective management organisation, ensuring revenue flows back to over 130,000 performers and record companies. PPL works with PRS for Music to complete public performance licensing.

You can find out more about PPL here.