The organisation said it delivered overall year-on-year revenue growth across all UK and international business units, while distributable revenues (royalties to members) were also up six percent on the previous year to a record £161.2m.
Revenue from the public performance of music across the UK increased by 10 percent to £76.7m, helped by increased licensing activity, raised awareness of the value of music, and improvements to internal systems and processes.
International collections increased by six percent to £36.4m in 2014, despite a decline in the value of key currencies. During the year, PPL expanded its global reach, with nine additional agreements signed with international collecting societies to take the total to 75.
Broadcast and online revenue grew by one percent in 2014 to £74m, largely achieved through a return to growth in commercial radio revenues.
In the commercial television sector, where PPL has long term licensing agreements in place with all the major broadcasters, revenue was flat year-on-year.
Peter Leathem, PPL chief executive, said: ‘2014 has been a very good year for PPLs members. We collected more revenue across all areas of our business in the UK and internationally, and also paid out more of that revenue faster, to more members than ever before.
‘We’re not resting on our laurels though, and will continue to invest in our systems and technologies to maximise revenues on behalf of our members. At the same time we are also rapidly progressing our joint working with PRS for Music in the UK and a whole range of CMOs overseas as we continue to seek more efficient and effective ways of working.’
The results were announced at the PPL Annual General Meeting (AGM) on 3 June.
Revenue from the public performance of music across the UK increased by 10 percent to £76.7m, helped by increased licensing activity, raised awareness of the value of music, and improvements to internal systems and processes.
International collections increased by six percent to £36.4m in 2014, despite a decline in the value of key currencies. During the year, PPL expanded its global reach, with nine additional agreements signed with international collecting societies to take the total to 75.
Broadcast and online revenue grew by one percent in 2014 to £74m, largely achieved through a return to growth in commercial radio revenues.
In the commercial television sector, where PPL has long term licensing agreements in place with all the major broadcasters, revenue was flat year-on-year.
Peter Leathem, PPL chief executive, said: ‘2014 has been a very good year for PPLs members. We collected more revenue across all areas of our business in the UK and internationally, and also paid out more of that revenue faster, to more members than ever before.
‘We’re not resting on our laurels though, and will continue to invest in our systems and technologies to maximise revenues on behalf of our members. At the same time we are also rapidly progressing our joint working with PRS for Music in the UK and a whole range of CMOs overseas as we continue to seek more efficient and effective ways of working.’
The results were announced at the PPL Annual General Meeting (AGM) on 3 June.
