A sheaf of British currency
Photo by Colin Watts on Unsplash

If there’s a trend in the financial results of various collecting societies / performing rights organisations across the world, it’s of a welcome bounceback from the revenue hits of the lockdowns period of Covid-19.

PPL in the UK is the latest example, breaking its own records this morning with its financial results for 2022. The company generated revenues of £272.6m last year ($340.1m at current exchange rates) which represented year-on-year growth of 7.8%.

This included a big 39.8% uptick in revenues from the use of recorded music in public places to £100.8m. Significantly, that’s more than the £99.6m made from this source in the last full year before Covid-19.

Meanwhile, PPL’s revenues from radio, TV and online use of music grew by 8.4% to £94m.

One double-edged stat, though, is the fact that PPL paid more than 165,000 artists and recordings rightsholders in 2022 – up by 12.6% from 146,000 in 2021.

The sight of collections growing by 7.8% while the number of payees grows by 12.6% reinforces the sense of the royalties pie increasing slower than the number of mouths it has to feed.

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Stuart Dredge

Music Ally's Head of Insight