Bumper year for music royalties collection
Royalties collection agency Phonographic Performance Ltd has announced a record year for 2006, with revenue from public performance at an all-time high of £39.2 million.
The figure represents a 17% increase on the previous 12 months for the organisation, which licenses around 250,000 establishments in the UK to play sound recordings in public.
Broadcast revenue - PPL’s largest source of income - increased by 3%, while dubbing income receipts showed a rise of 35%, contributing to a combined total of £52.7 million.
Fran Nevrkla, PPL chairman, said: “New business opportunities are emerging in new media as well as in the traditional business environment, especially for public performance.
“PPL is determined to work extremely hard to ensure that the ever expanding use of recorded music is properly licensed and fully monetised, which is absolutely essential, both for the record labels and individual performers.”
The results will be formally presented at the company’s AGM on June 6 at the British Museum.
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