Wednesday, June 12, 2024

UK music licensing company PPL distributed $24m to performers and rightsholders in Q1

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UK-based music licensing body PPL announced a strong start to 2024 with a 7% year-over-year increase in payouts to performers and recording rightsholders in the first quarter to GBP £18.8 million (approx. $23.7 million at current exchange rates).

Over 22,000 artists and recording rightsholders benefited from the distribution, the 90-year-old organization said Tuesday (March 27).

This distribution is the first of four annual payments made by PPL and serves as a vital source of income for performers, and labels (both independent and major), and contributes to their overall financial portfolio.

The Q1 payment originates from monies collected by 53 collective management organizations (CMOs) around the world at the end of 2023 and early 2024. Notably, PPL members received significant contributions from key music markets like Australia, Austria, France, Germany, Ireland, Netherlands, Poland, Spain, Switzerland and the US.

PPL’s neighboring rights collection spans a network of over 110 international agreements, representing 95% of the neighboring rights market value. The organization claims to be the “global leader in the collection of such royalties.”

PPL says it prioritizes efficient collection processes through collaboration with CMOs and rightsholders worldwide. Initiatives like VRDB, Rdx, and industry-wide collaborations with digital service providers through DDEX have improved the flow of metadata, PPL said.

The organization added that its continued investment and collaborative efforts have led to more accurate data sharing between CMOs, resulting in faster payout times for neighboring rights royalties.

The latest figures build on a strong 2023 for PPL. The group distributed a record £279.6 million ($352 million) to over 165,000 performers and rightsholders, a 14.3% increase from the previous year. In the fourth quarter alone, distributions also reached a record quarterly high of £48.7 million, paid out to 137,000 performers and recording rightsholders.

About a week ago, PPL launched its ‘PPL Giving’ initiative a dedicated £1 million annual program designed to support and invest in the UK music scene.

The program focuses on supporting organizations that promote positive change through music education, talent development, career support for veteran musicians, and artist well-being programs. The first wave of recipients includes prestigious organizations like the BRIT School and Youth Music, along with The Benedetti Foundation‘s Ambassador program, providing free music education to over 100 students.

Data from the British Phonographic Industry (BPI) earlier in March showed that the UK recorded music market saw 179.6 billion audio streams of music in 2023, up 12.8% from a year prior.

Music Business Worldwide

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