Money UK twenty pound notes

PPL in the UK is the latest collecting society to report double-digit growth in its revenues for 2021. It announced this morning that its revenues grew by 12% to £252.8m ($313.2m) last year. All three of its revenue streams – international, broadcast and online, and public performance and dubbing – grew in 2021, representing a bounce back from the initial impact of Covid-19.

There was still a pandemic impact though: distributions of royalties fell by 15.2% to £228.7m due to the delayed effect of 2020’s collections decline. Backing up data from elsewhere in the industry, this pie is also being spread more thinly: a record 147,000 artists received at least one payment from PPL in 2021 – 35,000 more than in 2020.

There’s also an interesting stat in the financials: “Over the last 3 years, on average 45,000 new recording details have been received each week,” said PPL. Although how that squares with the famous ‘60,000 new tracks are released every day’ industry figure is certainly a question worth exploring further.

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