PPL To Make Advance Distribution Payment of £23.9M in April
PPL, the UK’s music licensing company for performers and recording rightsholders, is today announcing an amendment to its annual payment schedule in order to bring forward part of its June distribution to members during these times of crisis.
On 30 April 2020, PPL will make an advance payment of £23.9 million to more than 15,000 performers and recording rightsholders. They are set to receive payment either as direct members of PPL or indirectly through other collective management organisations.
This action is being taken to further support members during the COVID-19 pandemic. The payment will bridge the gap between payments made in March and June as part of PPL’s annual distribution schedule. Including an advance payment in April provides much needed support for members at a time when cash flow is critical. It will include revenues from both PPL’s UK licensing activities and international collections.
Commenting on the advance payment, PPL Chief Executive Officer Peter Leathem said:
“PPL’s collections are an important revenue stream to tens of thousands of performers and recording rightsholders, both in the UK and around the world. In these difficult times, it is important that PPL is paying members even more regularly than usual. In addition to our March distribution of £87.6 million and our recent financial pledges to industry hardship funds, bringing forward part of the annual June payment to the end of April will provide further meaningful support for those in need.
I want to thank PPL’s staff for their tireless efforts in making this payment happen. It has involved a large amount of additional work; however we felt it was entirely appropriate to take these steps given the importance of cash flow to our members at this time.”
PPL recently pledged £700,000 to the emergency hardship funds being administered by Help Musicians, the Musicians’ Union and AIM. It also contributed to the pan-industry fund set up by record labels association, the BPI, which saw an additional £1.5m being made available to the Help Musicians Coronavirus Financial Hardship Fund and other channels for supporting musicians. More details on these schemes can be found on PPL’s website.