Collective management organisation PPL paid out £279.6m to 165,000 performers and recording rights holders in 2023.
This marks an increase of £34.9m (14.3%) on the previous year and is the highest annual total ever paid out in PPL’s 90-year history.
The £279.6m includes a payment of £7.7m by VPL, PPL’s sister company, which licences music videos when they are played in public or broadcast on TV. The £7.7m was a £1.6m increase on the previous year.
PPL cited the continued recovery from the Covid pandemic, as more businesses re-opened in the UK and globally, as a key factor in achieving the record total.
Its members receiving payouts range from independent and major record companies, to grassroots artists, session musicians and globally renowned artists.
“We understand these payments are critical for many and we pride ourselves on our ability to deliver them consistently and on time,” said PPL CEO Peter Leathem.
“As neighbouring rights continue to develop around the world, we see a huge opportunity ahead to grow our market share and maximise revenues for performers and recording rights holders.”