Record royalties boost UK music industry28 April 2014
Performance rights are growing steadily and are becoming a major income stream for the recorded music industry.
As a result, not-for-profit music licensing company PPL has announced that it’s internationally mandated members, consisting of record companies and performers will be receiving record international revenues in its quarter one distribution. International payments are distributed by PPL on a quarterly basis.
This quarter’s payment of over £13 million has beaten previous records by 20% (£3 million). PPL’s international payments make an important contribution to the UK’s recorded music industry.
The UK is one of only three net exporters of music in the world (along with the US and Sweden) and the music industry is therefore becoming an increasingly significant part of the wider UK creative sector.
Laurence Oxenbury, director of international, PPL, says: “We are proud to ensure our members continue to be deservedly paid for the use of their recordings around the world. Our concentration on improving global licensing and distribution processes and the delivery of revenue means that they can focus on creating music.”
PPL is dedicated to maximising royalties for its members via reciprocal agreements with other Collective Management Organisations (CMOs) globally.
The company currently has 68 reciprocal agreements in place with CMOs in 34 countries, representing over 90% of the total global value of the performance rights market, ensuring that internationally mandated members receive monies when their repertoire is used in those territories.
Peter Leathem (pictured), CEO of PPL, adds: “PPL remains at the forefront of addressing the many challenges associated with international rights management. While the EU Directive on the European copyright licensing landscape will seek to set common standards across European CMOs, focussing on core principles of governance, financial management, and transparency and reporting, there is still some way to go in effectively managing the accuracy and processes around performance rights management internationally. We are actively working collaboratively with our international counterparts to help transform the licensing and distribution process to maximise revenues for all those involved in creating recorded music across the globe.”