Collections at U.K. music licensing company PPL grew to £212 million ($273 million) in 2016, an increase of 8 percent on the previous year.
As a result, the London-based not-for-profit organization paid out a record total of £179 million ($230 million, after costs and deductions) to its members, with over 83,000 performers and just under 10,000 recording rights holders receiving payment in the past year -- a 30 percent rise on 2015's number.
Driving the growth was an increase in revenues across PPL's three major income streams: public performance and dubbing, broadcast license fees and international neighboring rights.
The latter experienced the highest year-on-year increase, growing 32 percent (16 per cent on a currency neutral basis) to £48 million ($62 million).
Of that total, the U.S. was the biggest single source of international neighboring rights revenue, generating £9.8 million ($12.6 million). France was the second-highest contributor with collections totaling £7.9 million ($10 million). Germany slipped to third place, earning £5 million ($6.3 million) for PPL, which has 83 international agreements in place with overseas CMOs to collect revenue across 39 countries.
In line with previous years, the bulk of income came from broadcast revenue (£77 million, up 2 percent) and public performance (£86 million, up 2 percent). PPL cited maintaining strong relationships with existing licensees and further increases in market penetration as key drivers behind the growth.
"We are delighted to have had another year of record growth and to have been able to pay out more money to our members than ever before," said chief executive Peter Leathem in a statement announcing the financial results, which will be formally presented to members at PPL's AGM on June 8.
Leathem went on to say that the organization's sustained growth was "made possible by the dedication and commitment that our staff show across all areas of the business and of course, the talents of our members."
He continued: "I am very pleased that we remain on course to continue delivering revenue growth, increased efficiency, outstanding customer service for our members and the highest level of customer satisfaction from our licensees."
