PPL Reports Record Profits For 2021
UK music licensing company PPL has reported revenues of £252.8 million ($347.7m) for 2021, up 12%, or £27.1 million ($37.27m) YoY.
UK music licensing company PPL has reported revenues of £252.8 million ($347.7m) for 2021, up 12%, or £27.1 million ($37.27m) YoY.
The company’s results for 2021 mark its second highest annual revenue total, after collecting £271.8 million in 2019.
PPL reports that it saw year-on-year growth across all three revenue streams in 2021, including International, Broadcast and online, and Public performance and dubbing1, with International and Broadcast, and online licensing revenues reaching record annual amounts.
PPL has 105 agreements with collective management organisations (CMOs) in Africa, Asia, Europe and North and South America and in 2021 established new deals with CMOs in India and Indonesia.
The company says that a number of CMOs sped up or brought forward payments in 2021, to support performers and recording rightsholders impacted by COVID-19, which, it says further contributed to 2021’s international revenue amount.
