Today, at the PPL Annual General Meeting (AGM) at Kings Place, London, Chris Smith (Rt Hon Lord Smith of Finsbury), John Smith and Peter Stack were re-elected by PPL’s members to sit on the PPL Board. The meeting included a Q&A between Chief Executive Peter Leathem and Music Week Editor Mark Sutherland and formal business presented by PPL’s General Counsel and Company Secretary, David Harmsworth, as well as addresses from Chair John Smith, Chief Operating Officer Christine Geissmar, Chief Financial Officer Chris Barton, and Director of Member Services Sarah Mitchell.
The AGM was accompanied by the publication of PPL’s Annual Review, looking back over the previous financial year. Key financial highlights from 2018 included PPL’s total revenue reaching a record £246.8 million – representing a 13% uplift on 2017 – and the number of performers and recording rightsholders paid exceeding 100,000 for the first time.
Peter Leathem, PPL’s Chief Executive Officer, commented: “Over the 85 years of PPL’s history, we have collected more than £3.2 billion for the recording rightsholders and performers that we represent, with a third of this revenue generated in the last five years.
Our significant revenue growth in recent years has made this a really important income stream for the performers and recording rightsholders that we represent, from household names to orchestral performers, and major labels to small independents. Recorded music, particularly from the UK, is in great demand at home and abroad and we will be there to ensure performers and recording rightsholders are fairly paid for the use of their creative work.”
I am pleased to report that 2018 was another strong year for PPL, with new highs reached in our collections and distributions. We are proud to be making a significant contribution to the growth of this industry.”
PPL also announced its annual Most Played Charts for 2018, which show the usage of tracks being played by broadcasters and in public by businesses and organisations across the UK. ‘Feel It Still’ by Portugal. The Man was the most played track of 2018, while Ed Sheeran was the most played artist for the third time in four years.
