Financial summary

2022 saw PPL record its highest-ever revenues, with year-on-year growth of £19.8 million to £272.6 million. Net distributable revenue ― the amount available for distribution to performers and recording rightsholders ― increased by £17 million (7.8%) to £234.5 million, while PPL’s cost-to-income ratio increased from 12.9% to 13.3% in 2022, due to the resumption of certain business activities which had been reduced during the pandemic in 2020 and 2021.

The growth in PPL’s total licence fee revenue was driven by the continuing improvement in public performance and dubbing revenues, which grew by 39.8% in 2021 to £100.8 million in 2022, and an uplift in broadcast and online revenue from £86.7 million in 2021 to £94.0 million in 2022.

International revenues performed strongly, generating £77.8 million ― the fourth highest since collections began in earnest in 2006.