Record-breaking revenue
PPL’s total revenue for 2024 reached £301.0 million – the highest in its 90-year history. This was driven by growth across all areas of UK licensing. Chief Financial Officer Chris Barton said the results “surpassed the targets we had set for the year,” despite challenging trading conditions.
Sector performance
UK licensing activity saw another successful year in 2024, delivering revenue of £220 million – up 6% increase on the previous year. Public performance licensing – which includes recorded music places in shops, restaurants and offices – rose by 9% to £121.4 million. Broadcast and online licensing revenue grew 2% to £98.6 million.
International collections also increased. PPL collected £81 million from overseas CMOs on behalf of members, up 7% year-on-year.
International growth
PPL’s international growth in 2024 was driven in part by the continued rise in the number of members who use PPL to collect on their behalf. PPL holds 113 agreements across 52 countries, making it the largest international collector of neighbouring rights income.
In addition, PPL continues to drive positive change across the global industry landscape, working with other CMOs to improve shared data services, helping it to identify and claim more income for its members abroad.
Read Peter Leathem’s address to PPL members at the 2025 AGM
PPL PRS update
Greg Aiello, Managing Director of PPL PRS – the joint venture for PPL and PRS – reported on the growth in public performance licensing. Key areas included the exercise to music tariff and factories and offices. In 2024, the team ran a pilot project in Suffolk, focusing on Ipswich, with positive results. PPL PRS also picked up several award wins during the year.
PPL and the global community: panel discussion
A panel discussion chaired by Natalie Wade, PPL’s Director of Music Industry Engagement, explored how PPL supports the global recorded music community.
Panellists Kate Reilly (Chief Membership and People Officer), Laurence Oxenbury (Director of International), and Dave Goggin (Head of Repertoire) discussed how international mandates work in practice and why they matter for rightsholders, and the scale of work involved across departments to collect overseas royalties.
The panel also highlighted the work being done to help improve the wider market for international collections. This includes collaborating on projects like RDx and using PPL’s expertise to provide back-office services to other CMOs around the world. The discussion closed with a look at how PPL works with organisations like IFPI and SCAPR to help open up new markets and build capacity for sound recording rights management globally.
Board elections and milestone achievements
The meeting included the re-election of Julian French, Sarah Mitchell and Michael Smith to the PPL Board of Directors. Kelly Burke, who was appointed by the PPL Board on 25 March following the resignation of Nick Hartley, was also re-elected.
The meeting closed with the announcement of PPL’s Most Played charts. Dua Lipa was named Most Played Artist, while Noah Kahan’s Stick Season was the Most Played Track.
You can read the full breakdown of PPL’s 2024 financial results and operations in the Annual Review 2024.
