It has recently been announced that during 2012 PPL, the UK music licensing company, had rose by an average of 11% across the various revenue sectors the company accounts for. Whilst this clearly is a significant increase, it is important to note that this money has just been pocketed as PPL have reported that, in total, the gross amount of money distributed to record companies and performer members rose by 12% to £146.6m.
Although PPL take a premium from the money they collect from public performance, broadcasting, international attention, and online publication, PPl have managed to cut the cost of services to the service users by reducing this figure by 0.5% to an average overall cost of 14.4%. In a formal announcement the CEO of PPL, Peter Leathem, proudly commented "“I am delighted to be able to report strong growth across all of our three main income streams as a result of the continued good progress PPL is making as a company as well as the astonishing success and popularity of UK music domestically and around the world. The growth in our International collections was clearly supported by the UK continuing to punch above its weight on the global stage.
“We are very aware of, and sensitive to, the ongoing difficult economic environment as it clearly affects not just our members, the vast majority of whom are small businesses and sole traders, but also our licensees as well. The significant growth of public performance income from businesses such as bars, shops, and offices was particularly pleasing and was largely achieved through a continued drive to raise awareness of licensing requirements with new local campaigns across the UK as well as improvements to internal processes and systems which continued to lead to more effective customer service delivery.”
Overall this proud public announcement was followed up by PPL's chairman, Fran Nevrkla, who commended the companies team by saying "They are strong by any measure and demonstrate the effectiveness of the management succession process. My congratulations, in his first year as CEO, to Peter Leathem and the rest of the team,"
It has recently been announced that during 2012 PPL, the UK music licensing company, had rose by an average of 11% across the various revenue sectors the company accounts for. Whilst this clearly is a significant increase...