PPL Annual Review spotlights a year of challenges and industry support
PPL’s 2020 financial results are detailed in full in our recently-published Annual Review, which takes a close look at a year unlike any other in the company’s history.
Across the 12 months, the amount of revenue PPL collected fell by 17.0% to £225.7 million as the global COVID-19 pandemic had a severe impact on our income. The most affected revenue stream was public performance and dubbing, which dropped by 42.2% to £57.5 million as a result of many UK businesses that play music having to close or operate under severe restrictions because of lockdown. However, international remained strong with a year-on-year drop of just 0.9% to £85.9 million and broadcast and online also held up well, moderately falling 3.8% to £82.3 million.
During the year money was distributed at least once to nearly 122,000 performers and approximately 12,500 recording rightsholders, significantly up on the previous records set in 2019 when 108,000 performers and 11,000 recording rightsholders received at least one payment from PPL.
The 2020 Annual Review provides an overview of a year described by Chief Executive Officer Peter Leathem in his review statement “as one of the most challenging in PPL’s history” but one in which the industry rallied round to help those most affected by the pandemic. There is also a statement from PPL Chair John Smith OBE, alongside financial details about our three core revenue streams, information on our latest data initiatives, an overview of our services to members, PPL’s charitable support, our EDI activity and initiatives, and the help we gave in 2020 to a number of industry hardship funds set up in the wake of COVID-19.