The UK's recording royalties collecting society PPL, which recently merged with its two main competitors, PAMRA and AURA, has just released record year end financial results, with licence fee income up 13%, and the net revenue passed on to the artists and labels the society represents up 11.8%.
Here's what PPL boss Fran Nevrkla has to say: "PPL revenue is the 'oldest' and largest ancillary revenue stream for our record company members and for the whole performer community, Our excellent results for 2006 are clearly beneficial to all our constituents. New business opportunities are emerging in new media as well as in the traditional business environment, especially public performance. PPL is determined to work extremely hard to ensure that the ever expanding use of recorded music is properly licensed and fully monetised which is absolutely essential, both for the record labels and individual performers".