Recording royalty collection types PPL yesterday published their financial results for 2007, and revealed that their annual income passed £100 million for the first time, which is just swell. Of the £115 million in royalty revenues collected on behalf of their members, £56.8 million came from the broadcast domain, £49 million from public performance and dubbing, and £9.1 million from international income.
PPL chief Fran Nevrkla says this: "I am delighted that in 2007 we have been able to deliver yet another set of excellent results in spite of rather difficult business environment. We shall continue making every effort to ensure that the rights which the performers and the record companies have kindly vested in us are enforced, licensed and monetised at the highest appropriate and commercially acceptable levels".
The results will be formally presented at PPL's AGM on 4 Jun at the British Museum, at which Culture minister Andy Burnham will speak. Presumably the plan is to politely listen to his speech then lock him in a cupboard until he agrees to an extension of the recording copyright term.