Income generated from the use of recorded music in public places topped £283.5m last year, up 4% from 2022 - the highest level ever recorded by music licensing body PPL (Phonographic Performance Limited).
PPL said the increase was driven by an uplift in income from using recorded music in public places such as shops, bars, nightclubs, offices, and factories, which was up 11% to over £111m in 2023.
Meanwhile, international revenue collected by PPL for the use of members’ music worldwide reached £75.4m.
After operating costs and other deductions, the amount passed on to PPL members and other Collective Management Organisations grew by 5% year on year, with the cost as a percentage of revenue reducing from 13.3% to 13% in the previous year.
Peter Leathem, CEO of PPL, said: "In these somewhat precarious times for performers, we are proud to deliver a consistent stream of income for them and recording rights holders - over £1bn distributed in the past five years alone. As the world leader in international collections, we will continue to advocate for neighbouring rights in new markets to maximise revenue opportunities for all our members.”